固定收益月报：9月地方债发行计划已披露6755亿元-20250817

Report Summary 1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Core View of the Report As of August 16, 2025, the disclosed issuance plan for local government bonds in September amounts to 675.5 billion yuan, with new special bonds accounting for 57%. In the third quarter, the issuance plan proportions for each month are 46% (1399.2 billion yuan) in July, 32% (963.3 billion yuan) in August, and 22% (675.5 billion yuan) in September. The proportions of new special bonds for each month are 44% (774.5 billion yuan), 34% (585.1 billion yuan), and 22% (384.3 billion yuan) respectively [1]. 3. Summary by Relevant Catalog 3.1 Overall Issuance Plan in September - The total disclosed issuance plan for local government bonds in September is 675.5 billion yuan, with new special bonds accounting for 57% [1]. 3.2 Issuance Plan by Region in September - The top regions in terms of local government bond issuance plan in September are Guangdong (88.7 billion yuan), Hebei (60.4 billion yuan), Jiangsu (56.5 billion yuan), Zhejiang (54.8 billion yuan), and Xinjiang (49.8 billion yuan) [2]. 3.3 New Special Bond Issuance Plan in September - The top regions in terms of new special bond issuance plan in September are Zhejiang (70 billion yuan), Yunnan (66.4 billion yuan), Sichuan (60 billion yuan), Hebei (59.1 billion yuan), and Fujian (53.5 billion yuan) [3].