As of August 2, 2026, local government bond issuance totaled approximately RMB 6.61 trillion, including RMB 2.41 trillion of new special bonds. This represents 55% of the annual quota of RMB 4.4 trillion, below the 63.1% pace in the same period of 2025. Guangdong led with RMB 287.025 billion, followed by six other provinces. The Politburo has urged faster use of fiscal funds and bond proceeds.