The planned issuance of local bonds in 19 provinces and cities exceeded 1.3 trillion yuan in the second quarter. Since the beginning of this year, local bond issuance has maintained a relatively fast pace, and after entering the second quarter, many provinces have also disclosed follow-up issuance plans. According to the Guotai Junan Securities Research report, as of May 5, a total of 19 provinces and cities have disclosed local bond issuance plans for the second quarter of 2023, totaling 1.3233 trillion yuan, of which new general debt, special debt and refinancing debt are 29.8 billion yuan, 523 billion yuan and 770.6 billion yuan respectively.