地方政府专项债券市场发展概况(一)专项债券市场发展概况截至今年7月末,我国专项债券累计发行2.56万亿元,约占同期地方债券发行量的三分之一。从期限结构来看,5年期占比最大,3年期及5年期共占52%,7年期及10年期占48%。2015年至今年7月,专项债券的整体交易量、流动性都趋于改善。(二)一般债券与专项债 Overview of the Development of Local Government Bond Market (I) Overview of the Development of Special Bond Market As of the end of July this year, China’s special bond issuance totaled 2.56 trillion yuan, accounting for about one-third of the local bond issuance in the same period. From the term structure, the five-year period accounted for the largest proportion, with 52% in the three-year and five-year periods and 48% in the seven-year and 10-year periods. From 2015 to July this year, the overall trading volume and liquidity of special bonds tended to improve. (B) general bonds and special bonds