政府债发行追踪：2025年第38周

Report Summary 1. Key Data for This Week - New special bond issuance this week was 97.8 billion yuan, a decrease of 34 billion yuan from the previous week [3] - New general bond issuance this week was 20.7 billion yuan, an increase of 6 billion yuan from the previous week [7] - Local government bond net financing scale this week was 3.09 billion yuan, a decrease of 161.9 billion yuan from the previous week [11] - Treasury bond net financing scale this week was 287.1 billion yuan, a decrease of 128.5 billion yuan from the previous week [14] - Government bond net financing this week was 317.9 billion yuan, a decrease of 290.4 billion yuan from the previous week [18] 2. Issuance Progress as of September 21 - New special bond issuance progress was 79.8% [3] - New general bond issuance progress was 82.0% [9] - New local government bond issuance progress was 80.2% [11] - Treasury bond net financing progress was 82.8% [16] - Treasury bond net financing + new local government bond issuance progress was 81.6% [18] 3. Cumulative Issuance in September as of September 21 - Cumulative new special bond issuance in September was 247.5 billion yuan [5] - Cumulative new general bond issuance in September was 35.4 billion yuan [5]