Commodities Buzz: Chinas local government debt balance stood at 16.61 trillion yuan

Chinas local government debt balance stood at 16.61 trillion yuan (2.64 trillion U.S. dollars) at the end of March, well within the official limit, according to the Ministry of Finance showed. The countrys top legislative body has decided that the upper limit for local government debt this year should be 20.99 trillion yuan. China issued local government bonds worth 191 billion yuan in March and 219.5 billion yuan in the first three months of this year, all for debt swaps.