Nearly 5 Trillion Yuan Debt Issued in 2009

(Caixin Online) In 2009, government and corporate entities issued a total of 4.9 trillion yuan debt, a 68.5 percent increase over 2008, according to a report posted on the website of the People's Bank of China. 

The Ministry of Finance issued 1.5 trillion yuan of debt, including 200 billion yuan in local government debt. Three policy banks – the Development Bank of China, Export and Import Bank of China and Agricultural Development Bank of China – issued 1.2 trillion yuan. A total of 266.9 billion yuan in subordinated bonds was issued by 23 commercial banks, 3.7 times as much as that in 2008. Two commercial banks floated 6.5 billion yuan in mixed bonds.