Stimulus surge: An employee counting 100 yuan banknotes at a bank in Lianyungang. About 1.3 trillion yuan, to be raised through long-term special treasury bonds, will be used to fund stimulus initiatives. — AFP
SHANGHAI: Chinese authorities have agreed to issue three trillion yuan (US$411bil) worth of special treasury bonds next year, according to two sources, 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 one trillion yuan and comes as Beijing prepares to soften the blow from of an expected increase in US tariffs on Chinese imports when Donald Trump returns to the White House in January.
