China has issued 93.6 billion yuan (about 13 billion U.S. dollars) in ultra-long special treasury bonds to fund equipment upgrades, the National Development and Reform Commission told China Central Television (CCTV) on Thursday.
The first batch of 2026 bonds is expected to drive more than 460 billion yuan in total investment. It will support 4,500 projects across industry, energy and power, education, healthcare, grain and oil processing, customs inspection, energy conservation, carbon reduction, environmental protection, recycling, and installing elevators in aging residential buildings.
Funds will also be directly allocated to local governments to continue scrapping and upgrading old trucks and agricultural machinery, while promoting the renewal of new energy city buses.
China issues first batch of ultra-long bonds for equipment upgrades
Chinese authorities are set to open duty-free shops each at 41 listed ports of entry to the country, including airports, sea ports and land border crossings, aiming to facilitate tax-free shopping for inbound travelers.
Five government departments, including the Ministry of Finance, made the announcement on Wednesday. They defined port-of-entry duty-free shops as stores located within the restricted zones of airports, sea ports or land border crossings. Spread across the country, these stores will only offer duty-free goods to inbound international passengers.
Analysts say the move will boost consumption and promote the sustained growth of the duty-free retail sector.
Beyond China's natural scenery and cultural appeal, shopping in the country is becoming an increasingly integral part of international tourists' travel itineraries. China has also been expanding its visa-free entry policies and refining tax-refund-upon-departure services for international tourists in recent years.
China to opens 41 new entry-port duty-free shops
