China to start selling 1tn yuan in long bonds for economic support

First batch to be issued Friday as Beijing aims to drum up cash for key projects

20240513 yuan note

China is set to start selling 1 trillion yuan worth of long-term bonds meant to drum up funds to bolster the economy. © Reuters

GRACE LI and ECHO WONG, Nikkei staff writers

HONG KONG -- China will start selling a series of long-term special treasury bonds this week, as Beijing explores new ways to prop up its flagging economy.

The government will issue the first batch of 30-year bonds on Friday, while 20-year bonds are due to go on sale May 24 and 50-year instruments will become available on June 14, according to a notice posted on the Finance Ministry's website.

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