Over Half of 2025 Target Achieved for Debt-Swap Bond Issuance Aimed at Replacing Hidden Debt

[Over Half of 2 Trillion Yuan in Debt-Swap Bonds Issued]

The issuance progress for debt-swap bonds aimed at "replacing existing hidden debt" has exceeded half of the 2025 target. According to journalists' calculations, as of March 19, local governments have issued 108.847 billion yuan in debt-swap bonds, with 13 regions (including provinces, autonomous regions, municipalities, and planned cities) having completed their annual quotas. Many interviewed experts believe that the issuance of debt-swap bonds is expected to be largely finished in H1. (Securities Times)