China will issue the sixth batch of ultra-long-term special treasury bonds for 2024 on Friday, announced the Ministry of Finance.
These bonds will be 30-year fixed-rate interest bonds with a total issuance amount of 50 billion yuan (about 7.07 billion U.S. dollars), it said.
Ultra-long special treasury bonds typically refer to those with a tenor of more than 10 years.
As of Thursday, the ministry has issued a total of 752 billion yuan in ultra-long-term special treasury bonds this year to support the implementation of major national strategies and security capacity building in key areas, as well as large-scale equipment upgrades and trade-ins for consumer goods.
China to issue 50 billion yuan ultra-long special treasury bonds
China to issue 50 billion yuan ultra-long special treasury bonds
The combined turnover of China's Shanghai and Shenzhen bourses reached 2.14 trillion yuan (about 302.5 billion U.S. dollars) on Thursday, marking the fourth consecutive trading day with volume exceeding 2 trillion yuan.
The benchmark Shanghai Composite Index was up 1.32 percent to 3,301.93 points, while the Shenzhen Component Index closed 0.82 percent lower at 10,471.08 points.
Shares related to coal, wind power and banking sectors led the gains, while the semiconductor, securities and property sectors suffered major losses.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 2.95 percent to close at 2,212.91 points Thursday.
China's central bank announced Thursday that it has decided to set up Securities, Funds and Insurance Companies Swap Facility (SFISF), with the initial scale of 500 billion yuan (about 71 billion U.S. dollars) for "the healthy and steady development of the capital market."
The SFISF, which is the first monetary policy tool created by China to support the capital market, will allow eligible securities, funds and insurance companies to use their assets including bonds, stock ETFs and holdings in constituents of the CSI 300 Index as collateral in exchange for highly liquid assets such as treasury bonds and central bank bills, the People's Bank of China said in a statement.
This development sparked interest in high-dividend stocks, with stocks controlled by state capital collectively rising.
More than 10 stocks including Metallurgical China (601618.SH), China Railway Group Ltd. (601390.SH) and COFCO Capital (002423.SZ) hit limit up.
Shanghai, Shenzhen bourses see fourth day with combined turnover topping 2 trillion yuan
