【申万固收|地方债周报】今年2万亿置换隐债专项债已全部发行完毕20251205

Core Viewpoint - The article discusses the completion of the issuance of 2 trillion yuan in special bonds for the replacement of hidden debts, indicating a significant step in local government debt management [2] Group 1: Special Bonds Issuance - A total of 2 trillion yuan in special bonds aimed at replacing hidden debts has been fully issued this year [2] - This issuance is part of a broader strategy to manage local government debt and improve financial stability [2] - The completion of this issuance is expected to have positive implications for local government financing and infrastructure projects [2]