Local government bond issuance hits a new monthly high, with about 6.7 trillion yuan issued in the first three quarters

According to Jin 10, in order to stabilize investment and the economy, local governments have recently accelerated bond issuance for major projects. In September, about 1.3 trillion yuan of local government bonds were issued nationwide, with a net financing amount of approximately 1.1 trillion yuan, both hitting new highs for this year.

In the first three quarters of this year, about 6.7 trillion yuan of local government bonds were issued nationwide, including approximately 4.2 trillion yuan in new bonds and around 2.5 trillion yuan in refinancing bonds. Since the quota for new local government bonds this year is set at 4.62 trillion yuan and currently about 4.2 trillion has been actually issued; thus the issuance of new bonds is nearing its end with only remaining 0.4 trillion yet to be issued - surpassing last year's progress.

Recently, the State Council executive meeting proposed studying and deploying a package of incremental policy implementation work . With financial policies such as interest rate cuts being implemented one after another , future fiscal expansionary policies are attracting widespread market attention . At present , many experts suggest considering issuing more national debt , special national debt , revitalizing special bond quotas etc., so as to moderately expand fiscal expenditure strength to stabilize economy.