On September 14, the province successfully issued 8.918 billion yuan in government bonds in Shanghai. This issuance comprises 2.468 billion yuan in refinancing general bonds and 6.45 billion yuan in refinancing special bonds, both designated to repay a portion of the principal on maturing bonds.

Looking at the maturity and interest rates, the 7-year bonds amount to 2.468 billion yuan with an issuing rate of 1.58%, while the 10-year bonds total 6.45 billion yuan with a rate of 1.73%.

Going forward, the Provincial Department of Finance will continue to formulate refinancing bond issuance plans well in advance, taking into account bond maturity schedules and actual funding needs. By strategically selecting issuance windows, the department aims to ensure the smooth redemption of maturing bonds while striving to minimize financing costs to the greatest extent. This approach is also expected to effectively alleviate repayment pressure on cities and counties, and mitigate risks associated with concentrated local government debt maturities.