Net financing is still negative this month, and there is a trend of expansion, what is the specific situation?
According to Huaan Fixed Income, as of December 28, according to HA statistics, the scale of urban investment bond issuance in December was 402.4 billion yuan, the repayment scale was 490.5 billion yuan, and the net financing scale was -88 billion yuan.
Compared with the previous month, the scale of net financing decreased by about 71.8 billion yuan, while compared with the same period last year, it increased by about 30.2 billion yuan.
From the administrative level:In December, the net financing of all administrative level entities was negative, of which the net financing scale of the park level was -35.1 billion yuan, the net financing scale of the district and county level was -31.4 billion yuan, the net financing scale of the prefecture and city level was -15.2 billion yuan and the net financing scale of the provincial level was -6.3 billion yuan.
Judging by the credit rating:In December, except for the net financing amount of unrated entities of 300 million yuan, the net financing scale of other ratings was negative. Among them, the net financing scale of AA entities was -57.9 billion yuan, the net financing scale of AA entities was -23.8 billion yuan, the net financing scale of entities below AA was -4.1 billion yuan, and the net financing scale of AA+ entities was -2.6 billion yuan.
Sub-regional:The provinces with the highest net financing in December were Henan Province (15.6 billion yuan), followed by Chongqing (5.6 billion yuan) and Guangxi Zhuang Autonomous Region (3.5 billion yuan).
The province with the lowest net financing was Jiangsu Province (-18.3 billion yuan), followed by Hunan Province (-17.4 billion yuan) and Sichuan Province (-17.0 billion yuan).
On a month-on-month basis, Chongqing, Hubei and Henan increased by 10.8 billion yuan respectively from the previous monthSichuan, Hunan and Guangdong fell by 14.9 billion yuan respectively from the previous month.
In terms of bond varieties:In December, only the net financing of general medium-term notes and general short-term financing bonds was positive, at 9.7 billion yuan and 3.3 billion yuan respectively.
The net financing amount of private placement bonds, general corporate bonds, directional instruments, general corporate bonds and ultra-short-term financing bonds was -900 million yuan, -13 billion yuan, -21.3 billion yuan, -22.3 billion yuan and -43.5 billion yuan respectively.
From the point of view of the main body of urban investment:In December, a total of 296 urban investment companies had negative net financing, of which the five entities with the lowest net financing amount were: Tianjin Urban Infrastructure Construction Investment Group (9.1 billion yuan), Hongsheng Development and Construction in Fenghua District, Ningbo City, 8.7 billion yuan, Shandong Public Holdings (6.7 billion yuan), Chengdu New Kaiyuan Urban Construction Investment (6.6 billion yuan) and Huanggang City Urban Construction Investment (4.2 billion yuan).
The five entities with the highest net financing are: Anhui Provincial Communications Holding Group (5 billion yuan), Qingdao SCO Holding Development Group (3.2 billion yuan), Qingdao Jimo District Urban Development Investment (2.3 billion yuan), Sanmenxia Investment Group (2.1 billion yuan) and Guangxi Beibu Gulf Investment Group (2 billion yuan).
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Urban investment bonds