China to issue 35b yuan ultra-long special treasury bonds in mid-June

BEIJING -- China will issue this year's third batch of ultra-long special treasury bonds on June 14, the Ministry of Finance said Thursday.

The bonds worth 35 billion yuan (about $4.92 billion) will be issued at the Beijing Stock Exchange with a term of 50 years and an interest rate depending on competitive bidding.

It will be China's first issuance of the 50-year ultra-long special treasury bonds this year.

Ultra-long special treasury bonds typically refer to those with a tenor of more than 10 years.

Such bonds with terms of 30 years and 20 years started to be issued on May 17 and 24, respectively, and were welcomed by investors in the market. All the issuance will be completed by mid-November.

The bond issuance is an important part of this year's proactive fiscal policies, which will help boost market confidence and expectations, and better support economic development, analysts said.