Group 1 - Beijing issued 3-year general local bonds with a scale of 7.2 billion yuan and an issuance rate of 1.48%, with a marginal multiple of 3.49 times, exceeding the expected multiple of 1.49 [1] - Beijing issued 5-year general local bonds with a scale of 33.155 billion yuan and an issuance rate of 1.59%, with a marginal multiple of 3.83 times, exceeding the expected multiple of 1.60 [1] - Beijing issued 7-year general local bonds with a scale of 114.9181 billion yuan and an issuance rate of 1.64%, with a marginal multiple of 1.79 times, slightly above the expected multiple of 1.65 [1] - Beijing issued 1-year ordinary special local bonds with a scale of 7.7201 billion yuan and an issuance rate of 1.46%, achieving a high marginal multiple of 6.94 times, significantly above the expected multiple of 1.47 [1]

Summary of Key Points Core Viewpoint - Hubei Province has successfully issued various types of local government bonds with different maturities and interest rates, indicating strong demand in the bond market. Group 1: Bond Issuance Details - Hubei issued 7-year general bonds totaling 90.692 billion with an interest rate of 1.6900% and a bid-to-cover ratio of 3.83, exceeding the expected ratio of 1.70 [1] - Hubei issued 10-year general bonds totaling 78.2984 billion with an interest rate of 1.7900% and a bid-to-cover ratio of 3.00, slightly below the expected ratio of 1.78 [1] - Hubei issued 1-year ordinary special bonds totaling 7.5000 billion with an interest rate of 1.4800% and a bid-to-cover ratio of 6.61, significantly higher than the expected ratio of 1.49 [1] - Hubei issued 7-year ordinary special bonds totaling 68.2089 billion with an interest rate of 1.7200% and a bid-to-cover ratio of 4.59, above the expected ratio of 1.71 [1] - Hubei issued 10-year ordinary special bonds totaling 64.3273 billion with an interest rate of 1.8400% and a bid-to-cover ratio of 2.43, lower than the expected ratio of 1.81 [1]