据介绍，未来，省财政厅将与各金融机构强化协作，推动续发行债券在交易所持续做市，带动山西债整 体交易量提升，畅通债券发行与交易循环机制，以财政金融高效联动共促山西高质量发展。 山西经济日报全媒体记者 马永亮 近日，省财政厅在上海证券交易所成功发行今年第五批政府债券125.94亿元，期限包含7、10、15、 20、30年期，平均投标倍数为22.58倍，平均利率1.86%。本批发行新增债券64.11亿元，发行再融资债 券61.83亿元，主要用于我省172个公益项目建设、补充政府性基金财力、偿还存量债务等。至此，我省 1-7月累计发行政府债券1081.71亿元。 今年以来，省财政厅认真贯彻落实更加积极的财政政策，不断深化地方债发行改革管理。充分研判机构 偏好和融资需求，在去年首发基础上，今年在全国首发47.66亿元续发行债券，将今年3月原债券增发至 129.87亿元，进一步优化债券规模和兑付结构，有效缓解利率低位对一二级市场的不利影响，赢得了市 场广泛好评。 ...

Core Viewpoint - The successful issuance of government bonds by the Shanxi Provincial Finance Department reflects a proactive fiscal policy aimed at funding public projects and managing debt effectively [1] Group 1: Bond Issuance Details - The Shanxi Provincial Finance Department issued a total of 12.594 billion yuan in government bonds, with maturities of 7, 10, 15, 20, and 30 years [1] - The average bid-to-cover ratio was 22.58 times, and the average interest rate was 1.86% [1] - This issuance included 6.411 billion yuan in new bonds and 6.183 billion yuan in refinancing bonds, primarily for 172 public welfare projects, supplementing government fund resources, and repaying existing debts [1] Group 2: Cumulative Issuance and Future Plans - From January to July, Shanxi has cumulatively issued government bonds totaling 108.171 billion yuan [1] - The Finance Department has implemented a more proactive fiscal policy and deepened local bond issuance reforms [1] - Future plans include strengthening collaboration with financial institutions to enhance the trading volume of Shanxi bonds and improve the bond issuance and trading cycle [1]