人民银行：截至2025年8月末金融债券余额43.9万亿元

Core Insights - The People's Bank of China reported that by the end of August 2025, the total balance of financial bonds is expected to reach 43.9 trillion yuan [1] - Policy bank bonds will account for 27.6 trillion yuan, playing a significant role in counter-cyclical adjustments in policy finance [1] - Capital bonds are projected to reach 7.9 trillion yuan, contributing to an approximate increase of 3.1 percentage points in the overall capital adequacy ratio of commercial banks [1] - Since 2021, a total of 3.2 trillion yuan in financial bonds related to technology innovation, green finance, small and micro enterprises, and agriculture have been issued [1] - The interbank market has issued credit asset-backed securities amounting to 2 trillion yuan [1]