主题：【原创】救火队成型-中国版本的08火山在前面了？ -- 范进中举

Local Gov debt to banks=9.3T

Local Gov bond (Municipal Investment Bond and Mid Term Note issue by local gov)=1.4T

So total centeral government approved debt=10.7T

Trust Loan+Entrusted Loan+Undiscounted Bank Acceptance+ABN+PPN+Others=7.3 T?

After the No.8 Rule from PBOC and CBRC, the price of local gov bonds rise, and yields of such bond are reduced to more reasonable levels.

Good news. yet yields still too high.