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MNI POLICY: China To Issue CNY100 Bln Special Treasury Bonds

MNI (London)
     BEIJING (MNI) - China will Thursday issue two special anti-Covid-19
treasury bonds totalling CNY100 billion, according to a statement by the
Ministry of Finance. 
     The durations of the notes are 5- and 7-years, respectively, with a face
value of CNY50 billion on each. The coupon will be fixed via biding on June 18
and distributed from June 23. 
     This sale aims to raise funds for pandemic prevention and economic
development, the Ministry said.
     The issuance comes as coronavirus reappeared in Beijing, with some areas in
the city adopting "wartime" measures as the capital raced to contain the spread.
     China said in its recent Government Work Report that it plans to issue CNY1
trillion special treasury bonds and raise the fiscal deficit by CNY1 trillion to
CNY3.76 trillion this year. These CNY2 trillion will be given to local
authorities in safeguarding employment, people's basic livelihoods, businesses,
tax and fee reductions, rent and interest rate cuts along with expanding
consumption and investment. 
     Unlike general treasury bonds, these bonds won't be included to national
deficit calculations.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MGQ$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
China Market NewsPolicy NewsFiscalGovernment sectorAPACChinaJapanAustraliaNew ZealandRegion
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
China Market NewsPolicy NewsFiscalGovernment sectorAPACChinaJapanAustraliaNew ZealandRegion
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