China to use ultra-long special treasury bond funds to support key works in 2025

China will increase the issuance of ultra-long special treasury bonds in 2025 to support large-scale equipment upgrades, consumer goods trade-in programs, and the implementation of major projects, an official from the country's top economic planner said Friday.

Yuan Da, deputy secretary-general of the National Development and Reform Commission (NDRC), announced the plans at a press briefing in Beijing and said further fiscal stimulus measures would be taken in order to implement major national strategies, build security capacity in key areas, and expand large-scale equipment upgrades and consumer goods trade-in programs.

"This year, we will increase the issuance of ultra-long special treasury bonds to more vigorously support the implementation of major national strategies and building of security capacity in key areas. Firstly, we will put more efforts into construction. We will continue supporting key tasks like the green development and the ecological and the environmental protection of the Yangtze River Economic Belt, the construction of the new western land-sea corridor, building public service systems for eligible people who move from rural to urban areas, and enhancing the quality of higher education," he said.

"Secondly, we will focus on both the implementation of projects and the improvement of mechanism. We will continue implementing projects in parallel with making related reforms, speed up the promotion of innovation in systems, mechanisms and policy making. Continuous efforts will also be made to improve the funding mechanism so as to enhance the overall investment efficiency. Thirdly, we will accelerate our work. Last year, we issued a project list that will be supported by 100 billion yuan (about 14 billion U.S. dollars) in ultra-long special treasury bond funds this year and will soon issue another project list so that tangible results will be made as soon as possible," added Yuan.

The official also noted that further efforts will be made to boost consumer goods trade-in programs, which are seen as part of China's efforts to boost domestic demand and support economic growth, while more steps will be made to enable large-scale equipment upgrades, review subsidies, and streamline approval procedures to help benefit businesses.

"This year, we will significantly increase the ultra-long special treasury bond funds to scale up the implementation of the large-scale equipment upgrades and consumer goods trade-in programs. Firstly, we will expand the upgrades and the programs, equipment used in the fields like electronic information, safe production, and industrialized agriculture will be encompassed into the equipment upgrades. Secondly, we will raise the subsidy standards. The subsidy standards for the renewal of new energy city buses and power cells as well as the renewal of agricultural machinery will be raised. We will also increase support for the trade-in program of home furnishing consumer goods. Thirdly, we will streamline the approval procedures of equipment upgrades so as to provide more convenience to the business entities who have such needs," said Yuan.

China to use ultra-long special treasury bond funds to support key works in 2025

China to use ultra-long special treasury bond funds to support key works in 2025

As temperatures drop, swarms of migratory birds have flocked to wetland reserves in Jiangxi and Hubei provinces, enjoying their winter stopover at the wetland sanctuaries where food is abundant.

At Nanji wetland in Nanchang, east China's Jiangxi Province, a record high of over 5,000 oriental white storks, a bird species under first-class national protection in China, have been spotted recently.

According to wetland workers, the population of migratory birds has been steadily growing since fishing was banned in 2020.

In addition, relevant authorities have conducted joint law enforcement and strengthened patrols to ensure that migratory birds can safely spend the winter there.

A wetland in Yangxin County, central China's Hubei Province, has recently transformed into a lake of swans with the arrival of large numbers of little swans.

The little swans were seen foraging, playing, and swimming at the Wanghu Wetland Nature Reserve, attracting many bird enthusiasts to capture the moments in photography.

This year, the population of little swans, a species under second-class national protection, has doubled compared to previous years.

The wetland, located in the middle and lower reaches of the Yangtze River, is one of the key stops along the migratory route of birds.

It has so far welcomed more than 90,000 migratory birds of 49 species, and the number is expected to reach 100,000 by the end of January.

Migratory birds flock to eastern, central China as temperatures drop