政府债发行追踪：2025年第52周

Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints - The issuance progress of new special bonds as of 12/28 is 104.0%, with new special bonds issued this week amounting to 2 billion, a decrease of 27.2 billion compared to the previous week, and a planned issuance of 14.5 billion next week [4] - The cumulative issuance of new general bonds in December as of 12/28 is 3.84 billion, and the cumulative issuance of new special bonds in December is 12.04 billion [4] - The issuance progress of new local bonds as of 12/28 is 102.8%, and the issuance progress of new general bonds is 96.3% [10][16] - The net financing progress of national debt as of 12/28 is 98.2%. The net financing scale of national debt this week is 178 billion, an increase of 225.3 billion compared to the previous week, and the planned net financing next week is 0. The net financing of government bonds this week is 174.8 billion, a decrease of 194 billion compared to the previous week, and the planned net financing next week is 1.74 billion [12] - The net financing scale of local bonds this week is -0.32 billion, a decrease of 3.12 billion compared to the previous week, and the planned net financing next week is 1.74 billion [16] 3. Summary by Related Catalogs - New Special Bonds - This week's issuance: 2 billion, a decrease of 27.2 billion compared to the previous week [4] - Issuance progress as of 12/28: 104.0% [4] - Next week's planned issuance: 14.5 billion [4] - New General Bonds - This week's issuance: 0, a decrease of 6 billion compared to the previous week [7] - Cumulative issuance in December as of 12/28: 3.84 billion [4] - Issuance progress as of 12/28: 96.3% [16] - New Local Bonds - Issuance progress as of 12/28: 102.8% [10] - This week's net financing scale: -0.32 billion, a decrease of 3.12 billion compared to the previous week [16] - Next week's planned net financing: 1.74 billion [16] - National Debt - Net financing progress as of 12/28: 98.2% [12] - This week's net financing scale: 178 billion, an increase of 225.3 billion compared to the previous week [12] - Next week's planned net financing: 0 [12] - Government Bonds - This week's net financing: 174.8 billion, a decrease of 194 billion compared to the previous week [12] - Next week's planned net financing: 1.74 billion [12]