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 - Tianjin issued a 7-year special local government bond for housing renovation with a scale of 2.6 billion yuan and an issuance interest rate of 1.68% [1] - The marginal multiple for the 7-year bond was 1.85 times, with an expected multiple of 2.03 [1] - Tianjin also issued a 15-year special local government bond for healthcare with a scale of 1.2 billion yuan and an issuance interest rate of 1.91% [1] Group 2 - The marginal multiple for the 15-year healthcare bond was 1.00 times, with an expected multiple of 2.17 [1]