China issues first batches of 2025 special treasury bonds

BEIJING, April 24 (Xinhua) -- China on Thursday issued this year's first batches of ultra-long special treasury bonds and special treasury bonds designed to support large state-owned commercial banks in replenishing capital.

According to this year's government work report, a total of 1.3 trillion yuan (about 180.31 billion U.S. dollars) of ultra-long special treasury bonds will be issued, 300 billion yuan more than in 2024, while 500 billion yuan of special treasury bonds will be issued to support large state-owned commercial banks in replenishing capital.

The first phase of ultra-long special treasury bonds worth 50 billion yuan was issued on Thursday, featuring a term of 20 years and a coupon rate of 1.98 percent.

The second phase of ultra-long special treasury bonds worth 71 billion yuan, with a 30-year term and a coupon rate of 1.88 percent, was also issued on Thursday.

These ultra-long special treasury bonds will facilitate the implementation of major national strategies and enhance security capacity in key areas, as well as support a new round of large-scale equipment upgrades and consumer goods trade-in programs.

Industry experts believe this is conducive to releasing domestic investment and consumption demands.

On Thursday, China also issued 165 billion yuan of special treasury bonds designed for supporting large state-owned commercial banks in replenishing capital, with a term of five years and a coupon rate of 1.45 percent.

The issuance of these bonds will help banks to consolidate and enhance their stable operation capabilities and high-quality development, industry experts said.