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Special bonds aim to promote demand, growth
Author:admin
Number of views:12
Release time:2024-5-16
Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. [Photo/Agencies]

China's plan to sell 1 trillion yuan ($138 billion) in ultra-long-term treasury bonds marks its latest move to bolster fiscal support for the economy, a step that experts say will stabilize expectations, boost domestic demand and shore up growth.

The issuance of 1 trillion yuan in ultra-long central special sovereign bonds will begin on Friday and run until mid-November. Three tenors are being planned — 20-year, 30-year and 50-year bonds, the Ministry of Finance said on Monday.

"The ultra-long bond issuance marks the introduction of a new policy tool that will be vital for supporting the government's investment in key projects, which will give full play to the crucial role of government investment in shoring up economic growth," said Zhang Liqun, a researcher at the macroeconomic research department of the Development Research Center of the State Council.

The country aims to raise funds for major national strategies and build up security capacity in key areas, especially in fields including technological innovation, coordinated regional development, ensuring grain and energy security, and the high-quality development of the population.

Experts said the issuance and use of the bonds will not only expand effective demand and help achieve the annual growth target this year, but also will be conducive to fostering new quality productive forces and promoting high-quality development in the long run.

Luo Zhiheng, chief economist at Yuekai Securities, said the ultralong bond issuance will help expand demand, consolidate the foundation for economic recovery and optimize the economic structure.

Regarding China's plan to issue ultra-long, special-purpose treasury bonds for several consecutive years, Liu Sushe, deputy head of the National Development and Reform Commission, said the country has drafted an action plan to support its key strategies and enhance its capacities to ensure security in key areas.

Liu told a news conference in April that the focus will be on achieving greater self-reliance and strength in science and technology, promoting integrated urban and rural development, and enhancing the capabilities of ensuring grain and energy security.



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