Guangzhou (JLC), May 14, 2024--China will issue ultra-long special government bonds starting this Friday, to give a boost to its economy, the Ministry of Finance said on May 13, 2024.
The country will start to sell these bonds with terms of 20 years, 30 years and 50 years on May 24, May 17 and June 14, respectively.
The issuance of this year's bonds will be completed by November 15, with a total amount of CNY1 trillion (USD140.74 billion), according to the country's government work report released earlier this year.
China has also planned for the issuing of ultra-long special treasury bonds during each of the next several years, aiming to boost the construction of strategic and key projects.
The funds raised through the special treasury bonds will be used to implement major national strategies and build up security capacity in key areas, Zheng Shanjie, the director of the National Development and Reform Commission (NDRC), said earlier.
The NDRC had already drafted an action plan in support of the implementation of major national strategies and the expansion of security capacity in key areas, deputy director Liu Sushe revealed at a news conference in mid-April.
The issuance of these bonds will help to stabilize economic growth, boost domestic demand, and promote employment.
