November 24, China's crisis-hit Ministry of Railways carried out its fourth and final debt issue on Tuesday, raising RMB 30 billion ($4.7 billion).

It has now used up its RMB 100 billion annual corporate bond quota for 2011 approved by the National Development and Reform Commission, the nation’s top economic planner.

The ministry sold RMB 10 billion of 7-year bonds at a yield of 4.7% and RMB 20 billion worth of 10-year bonds at a yield of 4.99%. Both issues were down on the previous period, showing signs of declining popularity for such bonds in the aftermath of the Wenzhou train crash that rattled confidence in the country’s railway building boom.

China has issued a total of RMB 458.7 billion in bonds to finance railway construction since 1995, according to ministry data. Unexpired debt is around RMB 443 billion, sparking fears that the ministry will face great financial pressures in the coming years.