In 2025, the book-entry treasury bonds completed the bidding process and the actual issuance amount was 20 billion yuan.

The book-entry treasury bonds with a discount of face value in 2025 have completed the bidding process. The planned issuance amount for this period is 20 billion yuan, and the actual issuance face value amount is 20 billion yuan. The term of this period of national debt is 63 days, and the issuance price determined by bidding is 99.795 yuan, equivalent to an annual yield of 1.19%. Interest will start to be calculated from August 14, 2025, and distribution will be carried out from the end of bidding until August 14. Trading will commence on August 18. This period of national debt is issued at a discount below face value and will be redeemed at face value on October 16, 2025.