[SMM Morning News of Steel Market: Overseas Bonds Face Maturity Peak] Recently, some provincial city investment companies have been brewing plans to replace overseas bonds with domestic bonds. One background is that the current bond issuance interest rates for city investment domestic bonds continue to decline, with the average issuance rate around 2.5%, while the issuance interest rates for city investment overseas bonds are generally above 5.5%, which, when combined with other issuance costs, can even reach 8% to 10%. "Replacing high-interest overseas bonds with low-interest domestic bonds will help reduce the financing costs of city investment, optimize the debt structure, and further promote the resolution of local debts.

[SMM Morning News on Steel Market: Alleviating Burden of Existing Home Loan Mortgages: Over 30 Cities Support Switching from Commercial to Public Housing Loans] Recently, policies for "switching from commercial to public housing loans" have flourished in various regions. According to incomplete statistics by reporters, currently, counties and cities in provinces such as Jilin, Henan, Hunan, Hebei, Shandong, Anhui, and Sichuan support the policy of "switching from commercial to public housing loans," involving more than 30 cities. Taking a Guangzhou family as an example, based on calculations, if a 1.56 million yuan public housing fund loan is used to replace an equivalent amount of commercial loan, and if an equal repayment mode is adopted with a repayment period of 20 years, the monthly repayment would be 9,618.5 yuan even if calculated at an interest rate of 4.2%. If switched to a public housing fund loan, the monthly repayment amount would be 8,535.05 yuan, saving more than 1,100 yuan per month, reaching 13,200 yuan per year, and amounting to 260,000 yuan over 20 years. For ordinary residents, this is a considerable amount of money.

[SMM Morning News of Steel Market: Ministry of Finance: Targeted Issuance of Renewal Special Treasury Bonds Maturing in 2024 to Relevant Banks] According to the notice, the Ministry of Finance plans to issue the first and second phases of renewal special treasury bonds maturing in 2024. Both phases are fixed-rate coupon bonds. Among them, the first phase is a 10-year bond with a face value of RMB 300 billion, and the second phase is a 15-year bond with a face value of RMB 100 billion. The two phases of treasury bonds will be issued on August 29, 2024, and interest accrual will commence on the same day...

[SMM Morning News for Steel Market: Ministry of Commerce: Further Relaxing the Restrictions on Foreign Investors' Strategic Investment in Listed Companies] Li Yongwei, the Deputy Representative of the Ministry of Commerce for International Trade Negotiations, introduced at the press conference of the State Council Information Office that China will continue to relax market access for foreign capital, revise and issue a new version of the negative list for foreign investment access as soon as possible, realize the "elimination" of restrictive measures in the manufacturing sector nationwide, and promote the orderly expansion of opening-up in sectors such as telecommunications, Internet, education, culture, and healthcare...