政府债发行追踪一2025年第30周

Report Summary 1. Investment Rating - There is no information about the industry investment rating in the provided content. 2. Core View - The report tracks the issuance of government bonds in the 30th week of 2025, presenting the issuance progress and net financing scale of various types of bonds as of July 27, 2025 [2][4]. 3. Summary by Bond Type 3.1 New Special Bonds - As of July 27, the issuance progress of new special bonds was 59.0%. This week, 205.4 billion yuan of new special bonds were issued, a week - on - week increase of 44 billion yuan. In July, a total of 433.7 billion yuan of new special bonds were issued [4]. 3.2 New General Bonds - As of July 27, the issuance progress of new general bonds was 64.7%. This week, 23.3 billion yuan of new general bonds were issued, a week - on - week decrease of 4.4 billion yuan. In July, a total of 65.4 billion yuan of new general bonds were issued [4][7][9]. 3.3 Local Bonds - This week, the net financing scale of local bonds was 292.4 billion yuan, a week - on - week increase of 139.5 billion yuan. As of July 27, the issuance progress of new local bonds was 59.8% [11]. 3.4 Treasury Bonds - This week, the net financing scale of treasury bonds was 1.07 billion yuan, a week - on - week decrease of 4.74 billion yuan. As of July 27, the net financing progress of treasury bonds was 57.2% [16][18]. 3.5 Government Bonds - This week, the net financing of government bonds was 303.1 billion yuan, a week - on - week increase of 92 billion yuan. As of July 27, the combined progress of treasury bond net financing and new local bond issuance was 58.4% [20].