Following Beijing, Jiangsu and Guangzhou are adding special bonds to inject into the government investment fund.

After Beijing took the lead in directing local government special bonds to government investment funds, this practice has been promoted in Jiangsu and Guangzhou. Recently, Guangzhou, Guangdong Province announced its adjustment plan for the city's financial budget for 2025, which includes the disclosure of 20 billion yuan in new special bonds at the city level to be used for government investment funds. Jiangsu Province's adjustment plan for the provincial budget in 2025 shows that 90 billion yuan in new special bonds at the provincial level will be directed towards the provincial strategic emerging industries fund. Prior to this, Beijing issued 10 billion yuan in new special bonds on June 26, with the bond documents revealing that the bonds are intended to be directed towards the Beijing government's investment guidance fund.