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7月中国发行新增地方政府债券7032亿元
Zhong Guo Xin Wen Wang·2025-08-28 22:36

Group 1 - The Ministry of Finance of China announced that in July 2025, a total of 703.2 billion yuan of new local government bonds were issued, including 86.3 billion yuan of general bonds and 616.9 billion yuan of special bonds [1] - The average issuance term for local government bonds in July was 14.6 years, with general bonds averaging 8.7 years and special bonds averaging 16.9 years; the average issuance interest rate was 1.85%, with general bonds at 1.72% and special bonds at 1.90% [1] - From January to July 2025, a total of 3,315.9 billion yuan of new local government bonds were issued, with general bonds at 538.3 billion yuan and special bonds at 2,777.6 billion yuan; the total issuance of refinancing bonds was 3,387.7 billion yuan, leading to a total of 6,703.6 billion yuan of local government bonds issued [1] Group 2 - As of the end of July 2025, the total local government debt balance was 5,276.27 billion yuan, with general debt at 1,724.83 billion yuan and special debt at 3,551.44 billion yuan; the total government bonds amounted to 5,260.23 billion yuan [2] - The average remaining term of local government bonds was 10.3 years, with general bonds at 6.1 years and special bonds at 12.3 years; the average interest rate was 2.90%, with general bonds at 2.97% and special bonds at 2.86% [2] - The debt limit for local governments in 2025 was set at 57,987.43 billion yuan, with a general debt limit of 18,068.92 billion yuan and a special debt limit of 39,918.51 billion yuan [2]