人民银行：绿色债券年度发行规模持续保持在6000亿元以上

Core Viewpoint - The People's Bank of China emphasizes the importance of financial services to the real economy, aiming to expand financing scale and optimize financing structure to enhance the functionality of financial markets [1] Financing Structure Optimization - The PBOC has guided more financial resources towards key areas, with approximately 280 entities issuing technology innovation bonds worth 670 billion yuan since the launch of the "technology board" policy in the bond market [1] - During the 14th Five-Year Plan period, the annual issuance of green bonds has consistently exceeded 600 billion yuan, maintaining a position among the top three globally [1] - The PBOC supports private enterprises through bond financing tools, increasing the issuance support for private companies [1] Government Bond Financing - Government and local government bond financing has seen rapid growth, with the total government bond balance reaching 91.5 trillion yuan by the end of August 2025, an increase of 45.8 trillion yuan since the end of 2020, reflecting an average annual growth rate of 16.1% [1] - Local government bonds account for 53 trillion yuan of this total, with an increase of 27.6 trillion yuan since the end of 2020, averaging a growth rate of 17%, making it the largest category in the bond market [1] - During the 14th Five-Year Plan, the issuance of national bonds reached 50.1 trillion yuan and local government bonds reached 41.6 trillion yuan, increasing by 31.7 trillion yuan and 17.7 trillion yuan respectively compared to the 13th Five-Year Plan [1]