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 - Ningxia issued a 15-year special local government bond for healthcare with a scale of 0.66 billion and an issuance rate of 1.94% [1] - The marginal multiple for the healthcare bond was 1.30 times, with an expected multiple of 2.18 [1] - Ningxia also issued a 10-year special local government bond for urban renewal with a scale of 1.00 billion and an issuance rate of 1.79% [1] Group 2 - The marginal multiple for the urban renewal bond was 3.00 times, with an expected multiple of 2.34 [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]

Group 1 - Sichuan issued 7-year general local bonds with a scale of 6.81889 billion, an issuance rate of 1.6300%, and a marginal multiple of 1.79 times, exceeding the expected multiple of 1.71 [1] - Sichuan issued 30-year ordinary special local bonds with a scale of 16.379 billion, an issuance rate of 2.0400%, and a marginal multiple of 6.00 times, surpassing the expected multiple of 1.94 [1] - Sichuan issued 30-year other special local bonds with a scale of 3.619 billion, an issuance rate of 2.0400%, and a marginal multiple of 7.22 times, also exceeding the expected multiple of 1.94 [1]

Group 1 - Guizhou issued a 15-year special local government bond for urban renovation with a scale of 3.208 billion and an issuance rate of 1.9500%, achieving a marginal multiple of 2.78 times against an expected multiple of 1.94 [1] - Guizhou issued a 30-year special local government bond with a scale of 4.000 billion and an issuance rate of 2.0400%, achieving a remarkable marginal multiple of 47.25 times against an expected multiple of 1.99 [1] - Guizhou issued a 7-year general local government bond with a scale of 89.3999 billion and an issuance rate of 1.6300%, achieving a marginal multiple of 1.20 times against an expected multiple of 1.64 [1]

Group 1 - Guizhou issued a 15-year special local bond for affordable housing with a scale of 448.20 million and an issuance interest rate of 1.95% [1] - The marginal multiple for the 15-year bond was 1.04 times, with an expected multiple of 1.98 [1] - Guizhou also issued a 20-year special local bond for affordable housing with a scale of 231.00 million and an issuance interest rate of 2.04% [1] Group 2 - The marginal multiple for the 20-year bond was 5.25 times, with an expected multiple of 2.01 [1]

Core Viewpoint - Henan Province has successfully issued local government bonds with varying maturities, indicating strong demand and favorable interest rates in the current market environment [1] Group 1: Bond Issuance Details - Henan issued 7-year general local government bonds with a total scale of 11.28886 billion, at an interest rate of 1.66%, achieving a marginal multiple of 1.63 times against a forecast of 1.68 times [1] - Additionally, Henan issued 30-year ordinary special local government bonds with a total scale of 10.775 billion, at an interest rate of 2.07%, achieving a marginal multiple of 3.01 times against a forecast of 2.04 times [1]

Summary of Key Points Core Viewpoint - Guangdong has issued various types of local government bonds with different maturities and interest rates, indicating active participation in the bond market to raise funds for local projects [1]. Group 1: Bond Issuance Details - Guangdong issued 7-year special local bonds with a scale of 12.94 billion, an interest rate of 1.67%, and a marginal multiple of 1.37, with an expected multiple of 2.31 [1]. - Guangdong issued 10-year special local bonds with a scale of 135.86 billion, an interest rate of 1.76%, and a marginal multiple of 1.11, with an expected multiple of 2.32 [1]. - Guangdong issued 20-year special local bonds with a scale of 151.75 billion, an interest rate of 2.12%, and a marginal multiple of 25.73, with an expected multiple of 2.07 [1]. - Guangdong issued 7-year general local bonds with a scale of 49.23 billion, an interest rate of 1.67%, and a marginal multiple of 2.02, with an expected multiple of 2.34 [1]. - Guangdong issued another set of 7-year general local bonds with a scale of 36.99 billion, an interest rate of 1.67%, and a marginal multiple of 1.85, with an expected multiple of 1.68 [1].

Group 1 - Liaoning issued 7-year general local bonds with a scale of 112.545 billion yuan and an issuance rate of 1.6700%, with a marginal multiple of 2.11 times, exceeding the expected multiple of 1.70 [1] - Liaoning also issued 30-year ordinary special local bonds with a scale of 50.200 billion yuan and an issuance rate of 2.1200%, achieving a marginal multiple of 9.51 times, surpassing the expected multiple of 2.06 [1]