China will continue issuing ultra-long-term special treasury bonds and ensure effective allocation of funds in 2025 to better implement major national strategies and build up security capacity in key areas, the top economic planner told China Central Television (CCTV) on Tuesday.
To date, this year's 700 billion yuan (about 98 billion U.S. dollars) central government budget for investment has been fully allocated. Of the one trillion yuan (about 140 billion U.S. dollars) in ultra-long-term special treasury bonds, all 700 billion yuan designated for "implementing major national strategies and building up security capacity" has been in place for relevant projects, according to the National Development and Reform Commission (NDRC).
The NDRC plans to expedite the construction of those projects, aiming to generate tangible output within the year to fuel economic growth in the fourth quarter, it said.
Since the start of this year, the NDRC has identified 1,465 key projects around "implementing major national strategies and building up security capacity in key areas" and those concerning national interests. Ultra-long-term treasury bonds have been issued to support major initiatives such as the high-speed railway along the Yangtze River, high-standard croplands in Northeast China, urban underground pipeline networks, energy-saving and carbon reduction transformations in key sectors, and the shelterbelt program in northeast, north, and northwest China.
The commission said there will be an increase in the central government budget for investment, with the focus on major projects that are of fundamental and far-reaching importance and serve the public interest. The proportion of central budget investment supporting local projects will be appropriately raised, and efforts will be made to guide and leverage social capital.
China to continue issuing ultra-long special treasury bonds in 2025: official
China to continue issuing ultra-long special treasury bonds in 2025: official
