Beijing, China — In a significant move to bolster its national development, China has allocated 1 trillion yuan (approximately $139 billion) in ultra-long special treasury bonds for this year. The funds are earmarked to support a range of infrastructure and development projects across the country.
The National Development and Reform Commission (NDRC) announced on Saturday that the entire sum has been distributed to specific programs. A substantial portion, 700 billion yuan, is directed toward implementing major national strategies and enhancing security capabilities in key areas. The remaining 300 billion yuan will fund equipment upgrades and facilitate trade-ins for consumer goods.
Among the key projects receiving support are the construction of railways, highways, and airports along the Yangtze River. Additionally, there will be significant investment in developing high-standard farmlands in Northeast China and advancing the shelterbelt program in the northeastern, northern, and northwestern regions.
The NDRC emphasized its commitment to collaborating with relevant authorities to monitor and evaluate the progress of these initiatives. Efforts are underway to ensure that construction kicks off promptly, propelling the nation’s economic growth and development goals.
This allocation marks the beginning of a multi-year plan, as China intends to issue ultra-long special treasury bonds annually over the coming years, with 1 trillion yuan set for this year alone.
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China allocates 1 trillion yuan ultra-long special treasury bond funds
cgtn.com
