CHINA China to sell 750b yuan of special treasury bonds to bolster economy

CHINA

China to sell 750b yuan of special treasury bonds to bolster economy

CGTN

14:33, December 10, 2022

File photo

China will issue 750 billion yuan ($108 billion) worth of three-year special treasury bonds to bolster its economy, the Ministry of Finance said on Friday.

The notes will be issued on December 12, and targeted and issued to particular banks in the interbank bond market, the ministry said.

The People's Bank of China, the country's central bank, will also conduct open market operations with relevant banks, the ministry added.

The most recently issued special treasury bonds are believed to be a continuation of the 15-year special treasury bonds issued in 2007, which will mature on December 11.

The Ministry of Finance issued 1.55 trillion yuan of special treasury bonds in 2007 to purchase foreign exchange. The bonds were issued in eight installments, all of which were long-term treasury bonds with a maturity of 10 years or longer. The seventh installment is a 15-year period of 750 billion yuan.


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