Chinese national flags flutter in front of the Great Hall during the fifth plenary meeting of the first session of the 14th National People’s Congress (NPC) on March 12, 2023 in Beijing,
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Chinese authorities have agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, two sources said, which would be the highest on record, as Beijing ramps up fiscal stimulus to revive a faltering economy.
The plan for 2025 sovereign debt issuance would be a sharp increase from this year’s 1 trillion yuan and comes as Beijing prepares to soften the blow from an expected increase in U.S. tariffs on Chinese imports when Donald Trump returns to the White House in January.
The proceeds will be targeted at boosting consumption via subsidy programs, equipment upgrades by businesses and funding investments in innovation-driven advanced sectors, among other initiatives, said the sources.
The…
