Group 1 - The Shanxi provincial government is issuing 750 million yuan in government bonds aimed at individual and small institutional investors, with a minimum subscription of 100 yuan, highlighting the bonds as a safe and attractive investment option due to their high yield and limited availability [1][3][7] - The bonds are categorized into general bonds for non-revenue public welfare projects and special bonds for revenue-generating public welfare projects, with repayment sourced from the government's general public budget or specific project revenues [2][4] - This marks the fifth year of issuing local government bonds through commercial bank counters, with a total issuance of 1.76 billion yuan from 2021 to 2024, indicating strong investor interest [3] Group 2 - The bonds will be issued on August 25, with a maturity of five years, and will pay interest annually, with the principal repaid on August 29, 2030, providing a stable income stream for investors [3][4] - Eight banks are authorized to facilitate the purchase of these bonds, making it accessible for ordinary investors, with nearly 1,800 bank outlets available for transactions [5][6] - The bonds are backed by government credit, rated AAA by third-party agencies, ensuring high safety and low risk, appealing to investors seeking secure investment options [7][8]

财政部数：6月全国发行新增债券6281亿元 智通财经7月30日电，财政部数据显示，2025年6月，全国发行新增债券6281亿元，其中一般债券1010亿 元、专项债券5271亿元。全国发行再融资债券5472亿元，其中一般债券2674亿元、专项债券2798亿元。 合计，全国发行地方政府债券11753亿元，其中一般债券3684亿元、专项债券8069亿元。2025年1-6月， 全国发行新增地方政府债券26127亿元，其中一般债券4520亿元、专项债券21607亿元。全国发行再融资 债券28775亿元，其中一般债券7273亿元、专项债券21502亿元。全国发行地方政府债券合计54902亿 元，其中一般债券11793亿元、专项债券43109亿元。截至2025年6月末，全国地方政府债务余额519503 亿元。其中，一般债务171704亿元，专项债务347799亿元；政府债券517899亿元，非政府债券形式存量 政府债务1604亿元。 ...

Group 1 - Jiangsu issued 5-year general local bonds with a scale of 8.95 billion yuan and an issuance rate of 1.61%, with a marginal multiple of 7.73 times, exceeding the expected multiple of 3.34 [1] - Jiangsu issued 7-year general local bonds with a scale of 76.12 billion yuan and an issuance rate of 1.70%, with a marginal multiple of 7.70 times, exceeding the expected multiple of 3.22 [1] - Jiangsu issued 7-year ordinary special local bonds with a scale of 2.3 billion yuan and an issuance rate of 1.70%, with a marginal multiple of 6.40 times, exceeding the expected multiple of 3.09 [1]

Group 1 - Chongqing issued 30-year special local bonds with a scale of 50.08 billion and an issuance rate of 2.06% with a marginal multiple of 17.43 times, exceeding the expected multiple of 2.02 [1] - Chongqing issued 7-year general local bonds with a scale of 175.55 billion and an issuance rate of 1.69% with a marginal multiple of 3.12 times, surpassing the expected multiple of 1.69 [1] - Chongqing issued 15-year ordinary special local bonds with a scale of 22.77 billion and an issuance rate of 1.95% with a marginal multiple of 2.97 times, above the expected multiple of 1.94 [1]

Group 1 - Hebei issued 10-year general local bonds with a scale of 19.79 billion yuan and an issuance rate of 1.71% [1] - The marginal multiple for the general local bonds was 1.02 times, with an expected multiple of 1.74 [1] - Hebei also issued 10-year ordinary special local bonds with a scale of 4.7 billion yuan and an issuance rate of 1.74% [1] Group 2 - The marginal multiple for the ordinary special local bonds was 6.00 times, with an expected multiple of 1.74 [1]

Group 1 - Heilongjiang issued a 5-year general local government bond with a scale of 1.22382 billion, an issuance rate of 1.5500%, and a marginal multiple of 3.91, exceeding the expected multiple of 1.57 [1] - Heilongjiang issued a 10-year special local government bond with a scale of 8.9 billion, an issuance rate of 1.7400%, and a marginal multiple of 13.40, surpassing the expected multiple of 1.75 [1] - Heilongjiang issued a 10-year general local government bond with a scale of 5.96794 billion, an issuance rate of 1.7000%, and a marginal multiple of 6.26, slightly above the expected multiple of 1.74 [1]

Group 1 - Gansu issued 20-year special local bonds with a scale of 29.7557 billion, an issuance rate of 2.0400%, and a marginal multiple of 1.87, with an expected multiple of 2.20 [1] - Gansu issued another 20-year special local bonds with a scale of 108.9729 billion, an issuance rate of 2.0400%, and a marginal multiple of 1.89, with an expected multiple of 2.03 [1] - Gansu issued 10-year general local bonds with a scale of 96.2779 billion, an issuance rate of 1.7400%, and a marginal multiple of 1.26, with an expected multiple of 2.07 [1]

Group 1 - Fujian issued 7-year general local bonds with a scale of 10.00949 billion, an issuance rate of 1.6500%, and a marginal multiple of 1.43, with an expected multiple of 1.68 [1] - Fujian issued 3-year ordinary special local bonds with a scale of 541.94 million, an issuance rate of 1.4400%, and a marginal multiple of 1.96, with an expected multiple of 1.45 [1] - Fujian issued 10-year ordinary special local bonds with a scale of 8.65481 billion, an issuance rate of 1.7000%, and a marginal multiple of 2.33, with an expected multiple of 1.73 [1]

Group 1 - Beijing issued a 1-year special local bond for rail transit with a scale of 0.57 billion and an issuance rate of 1.41%, achieving a marginal multiple of 5.09, exceeding the expected multiple of 3.31 [1] - Beijing issued a 2-year special local bond for affordable housing with a scale of 15 billion and an issuance rate of 1.42%, achieving a marginal multiple of 3.28, exceeding the expected multiple of 2.59 [1] - Beijing issued a 5-year special local bond for other purposes with a scale of 189.98 billion and an issuance rate of 1.56%, achieving a marginal multiple of 1.56, below the expected multiple of 2.20 [1]

Group 1 - Beijing issued 3-year general local bonds with a scale of 8 billion, an issuance rate of 1.45%, and a marginal multiple of 3.06, exceeding the expected multiple of 1.45 [1] - Beijing issued 5-year general local bonds with a scale of 8.2 billion, an issuance rate of 1.56%, and a marginal multiple of 2.93, slightly below the expected multiple of 1.56 [1] - Beijing issued 7-year general local bonds with a scale of 19.3 billion, an issuance rate of 1.64%, and a marginal multiple of 1.82, lower than the expected multiple of 1.64 [1] - Beijing issued 10-year general local bonds with a scale of 45.5 billion, an issuance rate of 1.69%, and a marginal multiple of 1.16, below the expected multiple of 1.69 [1]