China has issued 1.05 trillion yuan (US$156 billion) in local government bonds so far this year, the Securities Times reported, citing official data.

Total local government bonds totalled 274 billion yuan in March 1 to March 20, the report said, adding that the number for January to February totalled 781 billion yuan, with 456 billion bonds for general use and 326 billion yuan for specific projects.

As approved by the Second Session of the Thirteenth National Congress, the limit for outstanding local government debt in 2019 is 24 trillion yuan with a 13 trillion yuan cap for general debts and 10 trillion yuan cap for debt of specific items.

As of the end of February, the outstanding debs for Chinese local governments is 19 trillion yuan, according to the latest official data.