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2025-07-30 17:14:39
[Local governments issued 5.49 trillion yuan in bonds in the first half of the year, with newly issued special bonds accounting for nearly 40%] (1) Data from the Ministry of Finance shows that in the first half of 2025, 5.49 trillion yuan in local government bonds were issued nationwide, including 2.6127 trillion yuan in new bonds (452 billion yuan in general bonds and 2.1607 trillion yuan in special bonds) and 2.8775 trillion yuan in refinancing bonds (727.3 billion yuan in general bonds and 2.1502 trillion yuan in special bonds). (2) In terms of issuance term and interest rate, the average issuance term of local government bonds was 15.9 years, with an average issuance rate of 1.92%. As of the end of June, the balance of local government debt was 51.95 trillion yuan, with an average remaining term of 10.2 years.
