China plans to issue a record 3 trillion yuan ($411 billion) in special treasury bonds next year to stimulate its slowing economy. The move comes ahead of anticipated US tariff increases on Chinese goods.
Chinese authorities have agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, two sources said, which would be the highest on record, as Beijing ramps up fiscal stimulus to revive a faltering economy. The plan for 2025 sovereign debt issuance would be a sharp increase from this year's 1 trillion yuan and comes as Beijing prepares to soften the blow from an expected increase in U.S.
tariffs on Chinese imports when Donald Trump returns to the White House in January. The proceeds will be targeted at boosting consumption via subsidy programs, equipment upgrades by businesses and funding investments in innovation-driven advanced sectors, among other initiatives, said the sources. The sources, who have knowledge of the discussions, declined to be named due to sensitivity of the matter. The State Council Information Office, which handles media queries on behalf of the government, the finance ministry and the National Development and Reform Commission (NDRC), did not immediately respond to a Reuters request for comment. The planned special treasury bond issuance next year would be the largest on record and underscores Beijing's willingness to go even deeper into debt to counter deflationary forces in the world's second-largest economy.China does not generally include ultra-long special bonds in its annual budget plans, as it sees the instrument as an extraordinary measure to raise proceeds for specific projects or policy goals as needed. As part of next year's plan, about 1.3 trillion yuan to be raised through long-term special treasury bonds would fund 'two major' and 'two new' programs, said the sources with knowledge of the matte
CHINA ECONOMY TREASURY BONDS FISCAL STIMULUS TARIFFS
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