Platform helps boost transparency of local government debts in China
The Ministry of Finance (MOF) has issued a guideline to standardize the management of a platform for local government bond information disclosure to boost transparency in local debts.
The platform, known as China electronic local government bond market access, has been established by the MOF. It is a national platform for local government debt information disclosure. The website domain name is www.celma.org.cn.
Local governments shall disclose their debt ceiling, balance, bond issuance, projects, debt servicing, major events and other relevant information at the platform, the guideline said.
China issued 4.55 trillion yuan (US$703 billion) in new local government bonds in 2020, data from the MOF showed.