今年超长期特别国债发行进度已近90%

Core Viewpoint - The issuance of ultra-long-term special government bonds in China is accelerating, with a total planned issuance of 1.3 trillion yuan in 2025, aimed at supporting key projects and enhancing economic growth [1][2]. Group 1: Issuance Details - The recent competitive bidding for the second tranche of the ultra-long-term special government bonds has been completed, with a total face value of 35 billion yuan for a 20-year fixed-rate bond [1]. - As of now, the overall issuance scale of ultra-long-term special government bonds has reached 1,148 billion yuan, achieving 88.3% of the planned issuance for the year [1]. Group 2: Economic Impact - The issuance of ultra-long-term special government bonds has positively influenced economic structure optimization, market confidence, and debt risk mitigation [2]. - The funds from these bonds have accelerated the implementation of strategic projects, boosted investment growth, and supported domestic demand expansion [2]. Group 3: Sectoral Support - The funds allocated for the "two heavy" projects and "two new" policies have shown significant effects, with retail sales of household appliances and communication equipment increasing by 28.4% and 21.1% year-on-year, respectively [2]. - Investment in equipment and tools has also increased by 14.4% year-on-year, contributing to a 2.1 percentage point rise in fixed asset investment [2]. Group 4: Future Outlook - The ultra-long-term special government bonds are expected to further support key sectors, with a focus on project alignment, funding allocation, and regulatory oversight to ensure effective utilization of funds [3]. - There is a need for a comprehensive regulatory mechanism to monitor the distribution and use of funds, ensuring they are deployed safely and efficiently [3].