China's government bond issuance reached a historic high in the first half of 2025, according to data released by the Ministry of Finance on Friday.
China issued 7.88 trillion yuan (about 1.1 trillion U.S. dollars) worth of government bonds in the first six months of 2025, a 35.28 percent increase compared to the same period last year, Tang Longsheng, deputy director of the ministry's treasury payment center, said at a press conference.
The average issuing rate on these bonds has declined by 43 basis points year on year, dropping to 1.52 percent, Tang added.
Notably, China issued 555 billion yuan (about 77.42 billion U.S. dollars) worth of ultra-long-term special treasury bonds in the first six months, 18 percentage points ahead of the same period last year, Tang said.
"Going forward, we will focus on the following areas in the issuance of treasury bonds. Firstly, we will complete the issuance of 1.3 trillion yuan (about 181.35 billion U.S. dollars) in ultra-long special treasury bonds as planned, ensuring solid funding for major national projects and programs, as well as the large-scale renewal of equipment and the trade-in of consumer goods," Tang said.
"Secondly, we will strengthen the monitoring of the treasury bond market and coordinate with relevant departments and treasury bond underwriting groups to promote the stable operation of the treasury bond market. Thirdly, we will comprehensively build electronic channels for savings treasury bonds to improve people's purchasing experience," he said.
China issues record number of government bonds in H1
