Group 1 - The Ministry of Finance reported that in June, a total of 628.1 billion yuan in new bonds were issued nationwide, including 101 billion yuan in general bonds and 527.1 billion yuan in special bonds [1] - The total issuance of refinancing bonds reached 547.2 billion yuan in June, with 267.4 billion yuan in general bonds and 279.8 billion yuan in special bonds [1] - For the first half of the year, the total issuance of new local government bonds was 2.6127 trillion yuan, comprising 452 billion yuan in general bonds and 2.1607 trillion yuan in special bonds [1] Group 2 - The total issuance of refinancing bonds in the first half of the year was 2.8775 trillion yuan, including 727.3 billion yuan in general bonds and 2.1502 trillion yuan in special bonds [1] - The overall issuance of local government bonds reached 5.4902 trillion yuan, with 1.1793 trillion yuan in general bonds and 4.3109 trillion yuan in special bonds [1] - The scope of special bonds used as project capital has expanded from 17 industries to 22 industries, with 191.7 billion yuan issued for project capital in the first half of the year, reflecting a year-on-year growth of 16% [1]

Core Insights - The Ministry of Finance reported that in June, a total of 628.1 billion yuan in new bonds were issued nationwide, including 101 billion yuan in general bonds and 527.1 billion yuan in special bonds [1] - The total issuance of local government bonds reached 1,175.3 billion yuan, with 368.4 billion yuan in general bonds and 806.9 billion yuan in special bonds [1] - In the first half of the year, new local government bonds issued amounted to 2.6127 trillion yuan, with 452 billion yuan in general bonds and 2.1607 trillion yuan in special bonds [1] Summary by Category New Bond Issuance - In June, the issuance of new bonds was 628.1 billion yuan, comprising 101 billion yuan in general bonds and 527.1 billion yuan in special bonds [1] - The total refinancing bonds issued nationwide in June were 547.2 billion yuan, with 267.4 billion yuan in general bonds and 279.8 billion yuan in special bonds [1] Local Government Bonds - A total of 11,753 billion yuan in local government bonds were issued, including 3,684 billion yuan in general bonds and 8,069 billion yuan in special bonds [1] - In the first half of the year, local government bonds issued totaled 5.4902 trillion yuan, with 1.1793 trillion yuan in general bonds and 4.3109 trillion yuan in special bonds [1] Special Bonds and Project Financing - The issuance of new local government special bonds for major project construction reached 2.6 trillion yuan in the first half of the year, with a broadened scope for project capital use from 17 to 22 industries [1] - Special bonds used as project capital amounted to 191.7 billion yuan, reflecting a year-on-year growth of 16% [1]