Local government bond issuance in the first 10 months increased by 23% year-on-year.

According to the data from the Ministry of Finance and public debt issuance, the total issuance of local government bonds in the first 10 months of this year is about 9.1062 trillion yuan, an increase of about 23% year-on-year. The scale of borrowing exceeding 9 trillion yuan has reached a historical high during the same period, reflecting a more proactive fiscal policy push this year to ensure the economy operates within a reasonable range. Looking at the monthly issuance of local government bonds this year, the issuance of local government bonds has accelerated significantly, mainly concentrated in the first half of the year. Since July this year, the monthly issuance of local government bonds has been declining, with the issuance in October totaling about 560 billion yuan, only slightly higher than the issuance in January. Overall, the issuance of local government bonds is close to completion.