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35 Billion Yuan

China Issues New Batch of Ultra-Long Special Treasury Bonds Worth 35 Billion Yuan

Beijing, June 14, 2024, The Europe Today: On Friday, China issued a new batch of ultra-long special treasury bonds, totaling 35 billion yuan (approximately 4.92 billion U.S. dollars). This marks the first issuance of 50-year ultra-long special treasury bonds in 2024.

The bonds were issued at the Beijing Stock Exchange, carrying a nominal interest rate of 2.53 percent. This follows four previous batches of ultra-long special treasury bonds issued since May, which have a combined value of 160 billion yuan.

The Ministry of Finance has planned a total of 22 batches of these ultra-long special treasury bonds for the year, with the final issuance expected by mid-November.

He Daixin, an expert from the Chinese Academy of Social Sciences, emphasized the significance of these bonds. “The issuance of the 50-year ultra-long special treasury bonds can provide stable financial support for the implementation of major national strategies in the long term. It is of great significance in improving bond supply and promoting the balance of supply and demand in the bond market,” He stated.

Ultra-long special treasury bonds, characterized by their tenure exceeding 10 years, play a critical role in ensuring financial stability and supporting long-term national initiatives. The continuous issuance of these bonds reflects China’s commitment to maintaining a robust and balanced bond market while securing funding for key strategic projects.