According to Wind data, as of August 10, the amount of new special bonds issued in various regions during the year had reached 2544.807 billion yuan, and the issuance progress was 57.8% compared to the annual amount of 4.4 trillion yuan. Among them, the scale of refinancing special bonds issued during the year to replace existing hidden debts reached 1794.243 billion yuan, completing 89.7% of the annual limit of 2 trillion yuan, which is close to 90%. Luo Zhiheng, chief economist at Guangdong Development Securities and director of the Research Institute, said that in the second half of the year, as reserve projects continue to be implemented and debt funds are issued more rapidly, the growth rate of fiscal expenditure is expected to be significantly higher than in the first half of the year, driving the economy to recover.

According to Wind data, as of August 10, the amount of new special bonds issued in various regions during the year had reached 2544.807 billion yuan, and the issuance progress was 57.8% compared to the annual amount of 4.4 trillion yuan. Among them, the scale of refinancing special bonds issued during the year to replace existing hidden debts reached 1794.243 billion yuan, completing 89.7% of the annual limit of 2 trillion yuan, which is close to 90%. Luo Zhiheng, chief economist at Guangdong Development Securities and director of the Research Institute, said that in the second half of the year, as reserve projects continue to be implemented and debt funds are issued more rapidly, the growth rate of fiscal expenditure is expected to be significantly higher than in the first half of the year, driving the economy to recover.