Group 1 - In July 2025, the total issuance of local government bonds reached 12,135 billion yuan, comprising 3,449 billion yuan of general bonds and 8,686 billion yuan of special bonds [3][4] - The average issuance term for local government bonds in July 2025 was 14.6 years, with general bonds averaging 8.7 years and special bonds averaging 16.9 years [3][6] - The average issuance interest rate for local government bonds in July 2025 was 1.85%, with general bonds at 1.72% and special bonds at 1.90% [4][7] Group 2 - From January to July 2025, the total issuance of new local government bonds was 33,159 billion yuan, including 5,383 billion yuan of general bonds and 27,776 billion yuan of special bonds [5][6] - The average issuance term for local government bonds from January to July 2025 was 15.6 years, with general bonds averaging 8.8 years and special bonds averaging 17.6 years [6][7] - The average issuance interest rate for local government bonds from January to July 2025 was 1.90%, with general bonds at 1.74% and special bonds at 1.95% [7] Group 3 - In the first seven months of 2025, local government bonds had a principal repayment of 14,780 billion yuan, with 12,825 billion yuan from refinancing bonds and 1,955 billion yuan from other fiscal arrangements [8] - The interest payment for local government bonds in the first seven months of 2025 totaled 8,314 billion yuan, with 1,183 billion yuan paid in July alone [9] Group 4 - As of the end of July 2025, the total local government debt balance was 527,627 billion yuan, with general debt at 172,483 billion yuan and special debt at 355,144 billion yuan [10] - The average remaining term for local government bonds was 10.3 years, with general bonds at 6.1 years and special bonds at 12.3 years [10] - The average interest rate for local government bonds was 2.90%, with general bonds at 2.97% and special bonds at 2.86% [10]