Chinese yuan Photo:VCG
China plans to issue the first batch of 1 trillion yuan ($140 billion) in ultra-long-term treasury bonds starting from Friday, as the authorities seek funds to shore up government spending and crucial projects’ investment for high-quality economic development.
The timing of the treasury bonds in 2024 will go from May through November. The bonds will include 20-, 30- and 50-year securities, according to a statement on the website of the Ministry of Finance (MOF) on Monday.
As the debut of ultra-long special- purpose treasury bonds for the year, the issuance of 40 billion yuan of 30-year bonds will start on Friday, according to the MOF.
Chinese Premier Li Qiang on Monday stressed the significance in issuing ultra-long-term special-purpose government bonds to effectively support major strategies and the development of security capabilities in key areas.
The issuance comes earlier than expected, underscoring the…
