SMM

Many experts believe that as an important starting point for financial power in the second half of the year, local bonds are expected to usher in a peak issuance from August. The data from Early Warning of Enterprise, an enterprise risk monitoring, and early warning platform, show that as of the end of July 2023, the issuance progress of new special bonds was 65.7%, significantly lower than the same period last year, and only 196.29 billion yuan of new special bonds were issued in July. Local bond issuance has accelerated since August. From August 1 to August 13, 593.845 billion yuan of local bonds had been issued, of which 249.038 billion yuan of new special bonds. The recent meeting of the Political Bureau of the Central Committee mentioned “accelerating the issuance and use of local government special bonds”. Many experts predicted that the new special bonds are expected to be issued before the end of September.