【立方债市通】河南212个专项债项目拟通过评审/豫企前7月融资1192亿元/3家豫企合计15亿元中票明日发行

Government Debt Management - The National People's Congress suggests optimizing the structure of central and local government bonds, including general and special bonds, to support development while controlling risks [1] - The State Council proposes to establish a long-term regulatory mechanism for local government debt and to delegate some project review authority for special bonds [3] Debt Statistics - By the end of 2024, the national government legal debt ratio is projected to be 60.9%, with a total debt balance of 82.1 trillion yuan, leading to an adjusted debt ratio of 68.7% when including local government hidden debts [4] Bond Issuance - The Ministry of Finance plans to issue 500 billion yuan in discount treasury bonds, with competitive bidding scheduled for September 17, 2025 [6] - Henan Province has completed the issuance of 383.15 billion yuan in government bonds, with various maturities and purposes [8] - Zhejiang Province intends to issue 108.54 billion yuan in new special bonds, primarily for government investment fund projects [12] Financing Trends - In the first seven months of the year, enterprises in Henan raised 119.2 billion yuan through domestic capital markets, marking a 12.8% year-on-year increase [10] - There is a growing trend of local banks participating in the issuance of technology innovation bonds, with 50 bonds issued totaling over 260 billion yuan [21] Market Dynamics - The early redemption of urban investment bonds increased slightly in August, with a total of 1.56 trillion yuan of urban investment bonds maturing or being subject to redemption within the year [26]