BEIJING — China's local-government bond issuance reached 138.4 billion yuan (about $21.19 billion) in November, data from the Ministry of Finance showed on Dec 8.

The figure took the total local-government bond issuance for the year to 6.26 trillion yuan by the end of last month.

In the first 11 months, the issuance of new bonds amounted to 4.49 trillion yuan, while refinancing bonds amounted to 1.77 trillion yuan, the data shows.

China has accelerated the issuance of local-government bonds this year to facilitate the timely implementation of various projects in order to mitigate the impacts of COVID-19.