交易商协会：债务融资工具发行规模连续两年突破10万亿元

Core Viewpoint - In 2025, the China Interbank Market Dealers Association supports over 2,300 enterprises to issue debt financing instruments amounting to 10.1 trillion yuan, marking the second consecutive year of surpassing 10 trillion yuan, with a net financing amount of 1.7 trillion yuan, providing support for the real economy [1] Group 1: Debt Financing Instruments - The issuance amount and net financing of debt financing instruments account for over 60% of corporate credit bonds in 2025 [1] - By the end of 2025, the outstanding scale of debt financing instruments is expected to exceed 18 trillion yuan, representing a year-on-year growth of 10% [1] - The average issuance interest rate for debt financing instruments in 2025 is 2.05%, down 38 basis points from 2024 [1] Group 2: Financing Structure - In 2025, 230 enterprises are supported to issue 123.9 billion yuan, distributed across industries such as large manufacturing, raw materials, pharmaceuticals, agriculture, forestry, animal husbandry, and tourism [1] - 135 private enterprises are supported to issue 578.2 billion yuan, accounting for over 70% of private corporate credit bonds [1] - 80.2 billion yuan is allocated to special bonds for stabilizing growth and expanding investment, providing financial support for central enterprises' "two new" investments [1] Group 3: Future Development - The Dealers Association aims to promote the continuous and healthy development of the debt financing instrument market, enhancing service quality for the real economy and providing stronger support for high-quality economic and social development [1]