Group 1 - The Ministry of Finance plans to issue the 2025 fixed-rate coupon treasury bonds for the first time, with a total competitive bidding face value of 119 billion yuan [1] - The coupon rate for the newly issued bonds is set at 1.78%, consistent with previously issued bonds of the same term [1] - The bonds will start accruing interest on November 15, 2025, with interest payments made semi-annually on May 15 and November 15 each year, and the principal will be repaid on November 15, 2035 [1] Group 2 - The bidding for the treasury bonds is scheduled for December 12, 2025, from 10:35 AM to 11:35 AM [1]

Group 1 - The Ministry of Finance plans to issue a new tranche of the 10-year fixed-rate coupon government bonds, specifically the 2025 book-entry bonds [1] - The total amount for this competitive bidding issuance is set at 119 billion yuan [1] - The coupon rate for this issuance remains consistent with the previously issued bonds at 1.78% [1] Group 2 - The interest payment dates for this bond issuance will follow the same schedule as the previously issued bonds, starting from November 15, 2025, with semi-annual interest payments on May 15 and November 15 each year [1] - The principal repayment is scheduled for November 15, 2035, coinciding with the final interest payment [1]

Core Viewpoint - The Ministry of Finance plans to issue a 10-year fixed-rate bond, specifically the 2025 Book-Entry Interest-Bearing Government Bond (22nd issue), with a total competitive bidding face value of 119 billion yuan [1] Group 1: Bond Details - The bond will have a fixed interest rate determined through competitive bidding [1] - Interest payments will be made semi-annually on May 15 and November 15, starting from November 15, 2025 [1] - The principal will be repaid on November 15, 2035, along with the final interest payment [1] Group 2: Auction Information - The bidding for this bond will take place on November 14, 2025, from 10:35 AM to 11:35 AM [1]