重庆发行7年期一般债地方债，规模175.5500亿元，发行利率1.6900%，边际倍数3.12倍，倍数预期 1.69； 重庆发行15年期普通专项地方债，规模22.7700亿元，发行利率1.9500%，边际倍数2.97倍，倍数预期 1.94。 重庆发行30年期其他专项地方债，规模50.0800亿元，发行利率2.0600%，边际倍数17.43倍，倍数预期 2.02； ...

重庆发行10年期一般债地方债，规模119.0700亿元，发行利率1.7500%，边际倍数3.15倍，倍数预期 1.75； 重庆发行15年期其他专项地方债，规模27.2700亿元，发行利率1.9500%，边际倍数5.02倍，倍数预期 1.94； 重庆发行20年期其他专项地方债，规模25.3400亿元，发行利率2.0500%，边际倍数1.26倍，倍数预期 2.03； 重庆发行30年期其他专项地方债，规模146.4500亿元，发行利率2.0600%，边际倍数35.56倍，倍数预期 2.04； 重庆发行15年期其他专项地方债，规模28.0000亿元，发行利率1.9500%，边际倍数3.02倍，倍数预期 1.94。 ...

广西发行20年期普通专项地方债，规模33.8459亿元，发行利率2.0500%，边际倍数14.76倍，倍数预期 2.02。 广西发行10年期一般债地方债，规模163.9220亿元，发行利率1.7100%，边际倍数1.34倍，倍数预期 1.73； 广西发行20年期其他专项地方债，规模87.7300亿元，发行利率2.0500%，边际倍数10.71倍，倍数预期 2.01； ...

Group 1 - Liaoning issued a 20-year special local bond with a scale of 62.3171 billion [1] - The issuance interest rate is set at 2.0500% [1] - The marginal multiple of the bond issuance is 2.16 times, with an expected multiple of 2.04 [1]

Group 1 - Shandong issued 15-year special local bonds with a scale of 36.03 billion, an issuance rate of 1.94%, and a marginal multiple of 3.70 times, exceeding the expected multiple of 1.92 [1] - Shandong issued 7-year land reserve special local bonds with a scale of 42.88 billion, an issuance rate of 1.68%, and a marginal multiple of 3.29 times, exceeding the expected multiple of 1.70 [1] - Shandong issued 10-year ordinary special local bonds with a scale of 47.2891 billion, an issuance rate of 1.74%, and a marginal multiple of 1.11 times, below the expected multiple of 1.73 [1]

Core Insights - Shandong issued a total of five types of local government bonds with varying maturities and interest rates, indicating active participation in the bond market [1] Group 1: Bond Issuance Details - Shandong issued a 7-year special local government bond for urban renovation with a scale of 12.03 billion and an interest rate of 1.68%, achieving a bid-to-cover ratio of 2.71 times, exceeding the expected ratio of 1.70 [1] - A 30-year special local government bond was issued with a scale of 70.86 billion and an interest rate of 2.03%, resulting in a bid-to-cover ratio of 2.29 times, above the expected ratio of 1.99 [1] - A 15-year special local government bond was issued with a scale of 40.34 billion and an interest rate of 1.94%, achieving a bid-to-cover ratio of 3.65 times, surpassing the expected ratio of 1.92 [1] - A 10-year special local government bond was issued with a scale of 10.19 billion and an interest rate of 1.74%, with a bid-to-cover ratio of 1.20 times, below the expected ratio of 1.73 [1] - Another 10-year special local government bond was issued with a scale of 18.93 billion and an interest rate of 1.75%, achieving a remarkable bid-to-cover ratio of 15.66 times, significantly higher than the expected ratio of 1.73 [1]

Group 1 - Xinjiang issued 10-year general local bonds with a scale of 12.214 billion yuan and an issuance rate of 1.7400%, with a marginal multiple of 1.46 times, slightly below the expected multiple of 1.75 [1] - Xinjiang issued 10-year other special local bonds with a scale of 2.493 billion yuan and an issuance rate of 1.7800%, achieving a marginal multiple of 1.67 times, also below the expected multiple of 1.75 [1] - Xinjiang issued 15-year other special local bonds with a scale of 3.340 billion yuan and an issuance rate of 1.9500%, with a marginal multiple of 1.81 times, slightly below the expected multiple of 1.94 [1] Group 2 - Xinjiang issued 20-year other special local bonds with a scale of 1.686 billion yuan and an issuance rate of 2.0500%, achieving a significantly high marginal multiple of 6.96 times, exceeding the expected multiple of 2.03 [1] - Xinjiang issued 30-year other special local bonds with a scale of 8.600 billion yuan and an issuance rate of 2.0500%, with a marginal multiple of 6.03 times, also exceeding the expected multiple of 2.04 [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 - Guizhou issued 10-year special local bonds with a scale of 12.2 billion yuan and an issuance rate of 1.72% [1] - The marginal multiple for the 10-year bonds was 1.91 times, with an expected multiple of 1.75 [1] - Guizhou also issued 30-year ordinary special local bonds with a scale of 15 billion yuan and an issuance rate of 2.04% [1] Group 2 - The marginal multiple for the 30-year bonds was 8.33 times, with an expected multiple of 2.00 [1]