Currency exchange rates and financial news outlets

China to Issue 6 Trillion Yuan in Treasury Bonds Over Three Years to Aid Economy

Oct 14, 2024, 01:46 PM

China is considering issuing up to 6 trillion yuan (approximately $820 billion) in ultra-long special treasury bonds over the next three years. This move aims to support local debt restructuring and stabilize the property market. The issuance is part of a broader fiscal stimulus strategy to address the country's slowing economy. The bonds are expected to help local governments resolve their debt issues. The announcement has led to increased activity in Chinese equities, with stocks such as $FXI and $KWEB being bid up. The plan, reported by Caixin, has also seen USD offered.