China to initiate issuance of ultra-long special treasury bonds

BEIJING - China will issue ultra-long special treasury bonds starting Friday to raise funds for the implementation of major national strategies and build up security capacity in key areas, the Ministry of Finance said Monday.

The country plans to initiate the issuance of such bonds with terms of 20 years, 30 years and 50 years on May 24, May 17 and June 14, respectively. The issuance of the last batch of these bonds will be completed by mid-November, according to the ministry.

China has planned for the issuing of ultra-long special treasury bonds during each of the next several years, starting with 1 trillion yuan ($140.79 billion) of such bonds in 2024.

The bonds will be used to support work in multiple fields, including science and technology innovation, integrated urban-rural development, coordinated regional development, food and energy security, and high-quality population growth, Zheng Shanjie, director of the National Development and Reform Commission, said earlier.