Local government bonds refer to bonds issued by local government and local public institutions in a country with fiscal revenue. Local government bonds are generally used for the construction of local public facilities such as transportation, communications, housing, education, hospitals and sewage treatment systems. Local government bonds are generally also guaranteed by the local government's tax revenue capacity for repayment of principal and interest. There are two modes of local government bond issuance. The first is direct bond issuance by local governments; the second is that the central government issues treasury bonds and then re-loans them to local governments, that is, the central government issues treasury bonds and then lends them to local governments. In certain specific cases, local government bonds are also called "municipal bonds".

  my country's local government bonds were officially liberalized in 2009. Since then, the local government's financial constraints have been alleviated, which is also more conducive to local governments to flexibly raise funds according to the development plans passed by local people's congresses to solve the funding problems in development; further, the relationship between the central government, local governments and local people's congresses has become more closely coordinated. But at the same time, the situation of some local governments over-indebted has also attracted attention from all parties. Due to my country's vast territory and large differences in development among regions, the issuance of local government bonds should be adapted to local conditions to ensure the stable development of my country's local government bond market.

  To assist in related research, CnOpenData has compiled local government bond issuance information in my country since 2009, including fields such as bond name, issuance scale, issuance date, bond type, and interest rate.

Data size

Time Range

2009-2024.7.29

Field Display

Sample data

Related literature

• Qiu Zhigang, Wang Ziyue, and Wang Zhuo, 2022: "Local Government Debt Replacement and New Implicit Debt - An Analysis Based on the Issuance Scale and Pricing of Urban Investment Bonds", "China Industrial Economy", No. 4.
• Zhang Qi and Yang Yue, 2023: "Market Identification and Response to Local Government Budget Disclosure - Evidence from Provincial Government Bond Pricing", "Economic Research", No. 12.

Data Update Frequency

Annual Update

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