Since the beginning of this year, the issuance of local bonds has maintained a relatively fast pace. After entering the second quarter, many provinces have also disclosed follow-up issuance plans.
According to the research report of Guotai Junan Securities, as of May 5, a total of 19 provinces and cities have disclosed their local bond issuance plans for the second quarter of 2023, totalling 1.3 trillion yuan, of which new general bonds, special bonds and refinancing bonds are 29.8 billion yuan, 523 billion yuan, and 770.6 billion yuan, respectively.
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