According to Fujian Provincial Department of Finance, Fujian local government is planning to issue $2.12 billion bonds (13.2 billion yuan), with an increase of 36.1 percent year on year, which is 21.8 percent higher than the average across China, Xinhua Net reported on May 9.

China’s local governments will issue 50 billion yuan additionally in this year –an increase of 14.3 percent -- and the provincial governments have strong demand for capital. Last year, Fujian reformed its bond management system. According to analysts, this is the main reason why Fujian’s bonds have recently increased.

This batch of government bonds will be used to improve people ' s livelihoods and adjust the economic structure, particularly in promoting public welfare such as the Comfortable Housing Project and Road Construction and Development.

By Peng Juan from China Daily Fujian Bureau