前8个月全国发行新增地方政府债券超3.8万亿元

Summary of Key Points Core Viewpoint - The Ministry of Finance has reported significant issuance of local government bonds in the first eight months of this year, indicating a robust financing activity to support local government projects and expenditures [1]. Group 1: Bond Issuance Data - In the first eight months of this year, a total of 38,874 billion yuan in new local government bonds were issued, comprising 6,208 billion yuan in general bonds and 32,666 billion yuan in special bonds [1]. - Additionally, 37,964 billion yuan in refinancing bonds were issued, with 12,089 billion yuan in general bonds and 25,875 billion yuan in special bonds [1]. - Overall, the total issuance of local government bonds reached 76,838 billion yuan, including 18,297 billion yuan in general bonds and 58,541 billion yuan in special bonds [1]. Group 2: Debt Statistics - As of August 2025, the total balance of local government debt is projected to be 532,484 billion yuan, reflecting the scale of local government financing needs [1]. - The average remaining maturity of local government bonds is reported to be 10.4 years, indicating a long-term financing strategy [1].