China’s National Development and Reform Commission (NDRC) announced on Saturday that the entire 1 trillion yuan (approximately $139 billion) raised from this year’s ultra-long special treasury bonds has been allocated to bolster strategic projects and spur economic growth.
Of this substantial fund, 700 billion yuan is designated for implementing major national strategies and enhancing security capabilities in key sectors. The remaining 300 billion yuan is allocated for equipment upgrades and promoting consumer goods trade-ins, aiming to stimulate domestic consumption and modernize industries.
Among the key projects benefiting from these funds are the construction of railways, highways, and airports along the Yangtze River, which is expected to enhance connectivity and trade in one of China’s most vital economic regions. Additionally, investments will be made in building high-standard farmlands in northeast China, strengthening the nation’s food security and agricultural productivity. The shelterbelt program in the northeast, north, and northwest regions will also receive support, focusing on environmental conservation and combating desertification.
The NDRC has committed to collaborating with relevant authorities to enhance monitoring and evaluation mechanisms, ensuring that these significant projects commence promptly and are executed efficiently.
According to this year’s government work report, China will continue issuing ultra-long special treasury bonds starting this year and over the next several years, with 1 trillion yuan set for this year. This strategic financial move reflects China’s efforts to sustain economic growth, upgrade infrastructure, and drive innovation amid global economic challenges.
Reference(s):
China allocates 1 trillion yuan ultra-long special treasury bond funds
cgtn.com
