Group 1 - Ningbo issued 10-year general local bonds with a scale of 4.29333 billion, an issuance rate of 1.7700%, and a marginal multiple of 2.69, exceeding the expected multiple of 1.86 [1] - Ningbo issued 7-year ordinary special local bonds with a scale of 412 million, an issuance rate of 1.7400%, and a marginal multiple of 7.99, significantly higher than the expected multiple of 2.04 [1]

Group 1 - Shanxi issued 30-year special local bonds with a scale of 1.94 billion and an issuance rate of 2.13% [1] - Shanxi issued 10-year special local bonds with a scale of 866 million and an issuance rate of 1.85% [1] - Shanxi issued another set of 10-year special local bonds with a scale of 1.63885 billion and an issuance rate of 1.82% [1] - Shanxi issued 7-year general special local bonds with a scale of 1.41727 billion and an issuance rate of 1.74% [1] Group 2 - The marginal multiple for the 30-year bonds was 2.45, with an expected multiple of 2.11 [1] - The marginal multiple for the first 10-year bonds was 2.41, with an expected multiple of 1.82 [1] - The marginal multiple for the second set of 10-year bonds was 2.32, with an expected multiple of 1.82 [1] - The marginal multiple for the 7-year bonds was 2.48, with an expected multiple of 1.76 [1]

Group 1 - Jiangsu issued 5-year general local bonds with a scale of 8.95 billion yuan and an issuance rate of 1.61%, with a marginal multiple of 7.73 times, exceeding the expected multiple of 3.34 [1] - Jiangsu issued 7-year general local bonds with a scale of 76.12 billion yuan and an issuance rate of 1.70%, with a marginal multiple of 7.70 times, exceeding the expected multiple of 3.22 [1] - Jiangsu issued 7-year ordinary special local bonds with a scale of 2.3 billion yuan and an issuance rate of 1.70%, with a marginal multiple of 6.40 times, exceeding the expected multiple of 3.09 [1]

吉林发行7年期一般债地方债，规模56.7727亿元，发行利率1.7000%，边际倍数8.01倍，倍数预期1.68； 吉林发行7年期普通专项地方债，规模17.5037亿元，发行利率1.7000%，边际倍数2.54倍，倍数预期 1.68。 吉林发行10年期中小银行专项地方债，规模260.0000亿元，发行利率1.7600%，边际倍数1.83倍，倍数 预期1.75； ...

Group 1 - Tianjin issued 7-year general local bonds with a scale of 4.48133 billion, an issuance rate of 1.6700%, and a marginal multiple of 2.73, exceeding the expected multiple of 1.69 [1] - Tianjin issued 5-year ordinary special local bonds with a scale of 7.54000 billion, an issuance rate of 1.5800%, and a marginal multiple of 1.59, slightly below the expected multiple of 1.60 [1] - Tianjin issued 7-year ordinary special local bonds with a scale of 9.92700 billion, an issuance rate of 1.6700%, and a marginal multiple of 1.38, also below the expected multiple of 1.69 [1]

Group 1 - Ningbo issued 10-year general local bonds with a scale of 12.27065 billion yuan and an issuance rate of 1.6900% with a marginal multiple of 2.37, exceeding the expected multiple of 1.73 [1] - Ningbo issued 7-year ordinary special local bonds with a scale of 3.34233 billion yuan and an issuance rate of 1.6500% with a marginal multiple of 4.85, surpassing the expected multiple of 1.67 [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]

Group 1 - Hunan issued 7-year general local bonds with a scale of 11.69401 billion, an issuance rate of 1.7000%, and a marginal multiple of 1.11, with an expected multiple of 1.67 [1] - Hunan also issued 7-year ordinary special local bonds with a scale of 267 million, an issuance rate of 1.7200%, and a marginal multiple of 1.58, with an expected multiple of 1.68 [1]

Group 1 - Shaanxi issued 20-year special local bonds with a scale of 20.81 billion yuan and an issuance interest rate of 2.10% with a marginal multiple of 218.10 times, exceeding the expected multiple of 2.11 [1] - Shaanxi issued 10-year general local bonds with a scale of 21.93 billion yuan and an issuance interest rate of 1.71% with a marginal multiple of 1.16 times, below the expected multiple of 1.81 [1] - Shaanxi issued 7-year ordinary special local bonds with a scale of 43.45 billion yuan and an issuance interest rate of 1.67% with a marginal multiple of 1.22 times, below the expected multiple of 1.73 [1]

Core Viewpoint - Jiangsu Province issued a 7-year general special local government bond with a scale of 36.66 billion yuan and an issuance interest rate of 1.66% [1] Group 1 - The bond issuance received a marginal multiple of 4.56 times, indicating strong demand compared to the expected multiple of 1.68 [1]