政府债发行追踪：2025年第26周

Report Overview - Report Title: Government Bond Issuance Tracking - Week 26, 2025 [2] - Researcher: Cheng Xiaoqing, Qualification Number: F3083989, Investment Consulting Number: Z0018635 [3] Key Data Points New Special Bond Issuance - This week, new special bond issuance reached 422.3 billion yuan, a week - on - week increase of 379.8 billion yuan [4] - As of June 29, the issuance progress of new special bonds was 48.0% [4] - In June as of June 29, the cumulative issuance of new special bonds was 479.1 billion yuan [4] New General Bond Issuance - This week, new general bond issuance was 57.2 billion yuan, a week - on - week increase of 29.9 billion yuan [7] - As of June 29, the issuance progress of new general bonds was 55.7% [8] - In June as of June 29, the cumulative issuance of new general bonds was 94.4 billion yuan [4] Local Bond Net Financing - This week, the local bond net financing scale was 560.4 billion yuan, a week - on - week increase of 436.1 billion yuan [11] - As of June 29, the issuance progress of new local bonds was 49.2% [13] Treasury Bond Net Financing - This week, the treasury bond net financing scale was 111 billion yuan, a week - on - week decrease of 24.1 billion yuan [16] - As of June 29, the treasury bond net financing progress was 50.3% [17] Government Bond Net Financing - This week, the government bond net financing was 671.4 billion yuan, a week - on - week increase of 412.1 billion yuan [20] - As of June 29, the progress of treasury bond net financing + new local bond issuance was 49.8% [21]