China to Increase Ultra-Long Treasury Bond Issuance to 700 Billion Yuan in 2025 to Support Major Projects

Jan 3, 2025, 04:57 AM

China's National Development and Reform Commission (NDRC) announced plans to sharply increase the issuance of ultra-long special treasury bonds in 2025, aiming to bolster funding for two major initiatives: large-scale equipment upgrades and consumer goods trade-in programs. The government intends to enhance investment in these areas to support economic recovery. In 2024, projects funded by 700 billion yuan (approximately $95.89 billion) in ultra-long special treasury bonds have mostly commenced, with over 1.2 trillion yuan in investments already completed. The NDRC emphasized that the new funding will play a crucial role in driving growth and implementing trade-in policies in the upcoming year.