BEIJING, May 28 -- China's local governments issued new bonds worth about 1.49 trillion yuan (about 207.63 billion U.S. dollars) in the first four months of 2025, data from the Ministry of Finance showed Wednesday.

Of the total, special-purpose bond issuance came in at over 1.19 trillion yuan, while general-purpose bond issuance amounted to 302.3 billion yuan.

By the end of April, outstanding local government debts stood at over 50.69 trillion yuan, according to the ministry.

China has pledged a more proactive fiscal policy this year to shore up sustained economic and social development. The country decided to issue 4.4 trillion yuan of local government special-purpose bonds in 2025, marking an increase of 500 billion yuan from last year, according to this year's government work report.