China's 10 local governments will issue a combined 109.2 billion yuan ($17.52 billion) worth of bonds this year under a trial program, the Finance Ministry said on Thursday.
The amount is made up more than one quarter of the 400 billion yuan total quota of the local government bond.
Unlike other local governments, the 10 governments in the trial program could issue the bond and repay the principal and interest on their own discretion.
The ministry said the annual quota for the 10 governments is only effective within one year and can't be rolled over to subsequent years.
Below is the quota for each local government:
Jiangsu province - 17.4 billion yuan
Guandong province - 14.8 billion yuan
Jiangxi province - 14.3 billion yuan
Shanghai - 12.6 billion yuan
Zhejiang province - 13.7 billion yuan
Shandong province - 13.7 billion yuan
Beijing - 10.5 billion yuan
Ningxia - 5.5 billion yuan
Shenzhen - 4.2 billion yuan
Qingdao - 2.5 billion yuan
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