Local bond issuance has significantly accelerated, with over 2.5 trillion yuan issued in various regions since the beginning of this year

On March 26th, local government bond issuance has significantly accelerated since the beginning of this year. Data shows that as of March 25th, the total amount of local bonds issued by various regions during the year reached 2539.953 billion yuan, a year-on-year increase of 89.07%. Among them, the proportion of newly added special bonds and refinancing special bonds used to replace existing implicit debts are 31.56% and 50.73% respectively, while the rest are general bonds and refinancing special bonds used to borrow new and repay old debts.