China plans to issue 1 trillion yuan of ultra-long special central government bonds to centralize spending and support the economy.

China plans to issue 1 trillion yuan ($139bn) of ultra-long special central government bonds this year, marking the fourth such sale in 26 years. The issuance aims to centralize spending and support the economy amid pressures from deflation, a property crisis, and dampened consumer confidence. Local governments will also be permitted to issue 3.9 trillion yuan of new special bonds for infrastructure spending. The fiscal deficit target remains at 3% of GDP, the same as last year.

March 05, 2024
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