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财政部:8月全国发行新增债券5715亿元 其中一般债券825亿元、专项债券4890亿元
智通财经网·2025-09-29 03:12

Group 1: National Local Government Bond Issuance - In August 2025, a total of 571.5 billion yuan in new bonds were issued nationwide, including 82.5 billion yuan in general bonds and 489 billion yuan in special bonds [3] - The total refinancing bonds issued amounted to 408.6 billion yuan, with 223.1 billion yuan in general bonds and 185.5 billion yuan in special bonds [3] - Overall, the total issuance of local government bonds reached 980.1 billion yuan, comprising 305.6 billion yuan in general bonds and 674.5 billion yuan in special bonds [3] Group 2: Average Issuance Terms and Rates - The average issuance term for local government bonds in August 2025 was 14.4 years, with general bonds averaging 8.9 years and special bonds averaging 16.8 years [4] - The average issuance interest rate for local government bonds was 2.04%, with general bonds at 1.89% and special bonds at 2.11% [5] Group 3: Year-to-Date Issuance Data - From January to August 2025, a total of 3887.4 billion yuan in new local government bonds were issued, including 620.8 billion yuan in general bonds and 3266.6 billion yuan in special bonds [6] - The total refinancing bonds issued during this period amounted to 3796.4 billion yuan, with 1208.9 billion yuan in general bonds and 2587.5 billion yuan in special bonds [6] - The cumulative issuance of local government bonds reached 7683.8 billion yuan, consisting of 1829.7 billion yuan in general bonds and 5854.1 billion yuan in special bonds [6] Group 4: Debt Repayment and Interest Payments - From January to August 2025, the total principal repayment for local government bonds was 1975.5 billion yuan, with 1702.7 billion yuan from refinancing bonds and 272.8 billion yuan from other fiscal arrangements [9] - In August alone, the principal repayment amounted to 497.5 billion yuan [9] - The total interest payments for local government bonds from January to August 2025 were 986.3 billion yuan, with 154.9 billion yuan paid in August [10] Group 5: Local Government Debt Balance - As of the end of August 2025, the total local government debt balance was 5324.84 billion yuan, with 1727.28 billion yuan in general debt and 3597.56 billion yuan in special debt [11] - The remaining average term for local government bonds was 10.4 years, with general bonds averaging 6.1 years and special bonds averaging 12.4 years [11] - The average interest rate for local government bonds was 2.88%, with general bonds at 2.94% and special bonds at 2.84% [11]