Group 1 - The Ministry of Finance of China reported that from January to November 2025, a total of 52,085 billion yuan of new local government bonds were issued, including 7,357 billion yuan of general bonds and 44,728 billion yuan of special bonds [1] - The total issuance of refinancing bonds nationwide reached 48,179 billion yuan, resulting in a cumulative total of 100,264 billion yuan of local government bonds issued [1] - The average issuance term for local government bonds was 15.5 years, with general bonds averaging 8.9 years and special bonds averaging 17.7 years; the average issuance interest rate was 1.97%, with general bonds at 1.82% and special bonds at 2.02% [1] Group 2 - As of the end of November 2025, the total local government debt balance was 546,597 billion yuan, comprising 174,509 billion yuan of general debt and 372,088 billion yuan of special debt [2] - The remaining average term for local government bonds was 10.5 years, with general bonds at 6.2 years and special bonds at 12.5 years; the average interest rate was 2.84%, with general bonds at 2.89% and special bonds at 2.81% [2]
1-11月中国发行新增地方政府债券52085亿元
Zhong Guo Xin Wen Wang·2025-12-30 17:38