What is the role of issuing 1 trillion yuan of ultra-long-term special treasury bonds? Let's hear what the experts have to say

Jimu News

2024-05-14 15:07Published on the official account of Hubei Chutian Metropolis Daily

CCTV News: The Ministry of Finance issued a notice on May 13, making it clear that 1 trillion yuan of ultra-long-term special treasury bonds will be issued this year, of which 40 billion yuan of 30-year special treasury bonds will be issued on May 17.

According to the arrangement, the 1 trillion yuan ultra-long-term special treasury bonds to be issued this year include 20-year, 30-year, and 50-year maturities, and the number of issuances is seven, 12, and three respectively. The issuance period is spread from mid-May to mid-November. Interest payments are made on a semi-annual basis. Among them, the 30-year period will be the first to debut on May 17.

Li Xuhong, vice president of the Beijing National Accounting Institute, said: "On the basis of the first quarter, leveraging social investment has a positive effect on the capital arrangement and financial stability of the entire market. ”

From the perspective of the main investment areas, this year's ultra-long-term special treasury bonds will be earmarked for the implementation of major national strategies and security capacity building in key areas.

Li Xuhong said: "For example, high-level scientific and technological self-reliance and self-reliance, urban-rural integration development, regional coordinated development, food and energy security, and the construction of a beautiful China are all areas that we focus on. ”

Industry insiders said that ultra-long-term special treasury bonds are guaranteed by national credit, which has the advantages of low risk and strong liquidity, and the yield is higher than that of short- and medium-term treasury bonds, so they are more concerned by the market, which will effectively stimulate investment and consumption and expand aggregate demand.

Gao Ruidong, chief economist of Everbright Securities, said: "The pace of fiscal expenditure will continue to accelerate, further boost aggregate demand, and support for people's livelihood and well-being and technological innovation will be stronger, thereby strongly supporting the continuous improvement of the overall economic situation." ”

Experts said that the issuance of ultra-long-term special treasury bonds will not only benefit the present and the long-term, but will also help optimize China's debt structure.

Luo Zhiheng, president of the Guangdong Securities Research Institute, said that as of the end of April 2024, the proportion of national ultra-long-term treasury bonds is about 16.9%, which is lower than the proportion of the United States, Japan and other developed economies in Europe, so it is necessary to further increase.

(Source: CCTV)

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