Local gov’t bond

CHINA’S local governments raised 304.3 billion yuan (US$43.95 billion) through bond issuance in May, official data showed yesterday.

In the first five months of the year, bond issuance of local governments totaled 1.9 trillion yuan, according to the Ministry of Finance (MOF).

By the end of May, outstanding local government debt reached 19.9 trillion yuan, below the official ceiling of 24.08 trillion yuan set for the year.

Fixed-asset investment

THE National Development and Reform Commission has approved 20 fixed-asset investment projects with combined investment totaling 51.6 billion yuan (US$7.48 billion) in May, official data showed yesterday.

The projects were mainly in high-tech and transportation industries, according to Meng Wei, spokeswoman for the National Development and Reform Commission. China’s fixed-asset investment remained basically stable in the first five months of the year thanks to robust high-tech investment.

Employment rate

THE employment rate of the 2018 Chinese college graduates remained stable at 91.5 percent, with the private sector being the biggest recruiter for graduates, a report showed.

The employment rate of vocational graduates came in at 92 percent and remained above the average level over the past four years, according to the report released by MyCOS, an educational research company. Private firms employed 54 percent of the university graduates and 68 percent of vocational graduates in 2018.