China's newly increased special-purpose local government bonds issued in the first quarter of 2026 stood at 1.1599 trillion yuan (about 169.7 billion U.S. dollars), according to the country's Ministry of Finance on Friday.
The number was 199.6 billion more than that of the same period last year, up 20.8 percent.
The special-purpose local government bonds are used for projects in key areas such as social services, transportation infrastructure, affordable housing, and urban renewal.
They are also intended to supplement government fund resources and help the clearance of government arrears owed to enterprises.
In the first quarter, the total treasury bond issuance exceeded 3.6 trillion yuan, up nearly 10 percent year on year, providing strong support to proactive fiscal policy.
Also on Friday, China kicked off the issuance of its 2026 ultra-long special treasury bonds, with the first two tranches comprising 20-year and 30-year fixed-rate bonds with periodic interest payments.
The issuance follows this year's Government Work Report, which proposed raising 1.3 trillion yuan (about 189.3 billion U.S. dollars) through ultra-long special treasury bonds to support projects for implementing major national strategies and building security capacity in key areas, as well as large-scale equipment upgrades and consumer goods trade-in programs.
According to a notice previously released by the Ministry of Finance, the issuance of this year's ultra-long special treasury bonds is expected to be completed by mid-October.
Ultra-long special treasury bonds are government securities with maturities typically of 10 years or longer. They are used as a policy tool to finance long-term, large-scale investments aligned with national priorities, while also helping to stabilize growth by injecting sustained fiscal support into the economy.
China issues nearly 1.16 trillion yuan of new special-purpose local gov't bonds in Q1
Chinese Foreign Minister Wang Yi, together with Sihasak Phuangketkeow, Thailand's deputy prime minister and foreign minister, held the third meeting of the Consultation Mechanism between the Ministers of Foreign Affairs of China and Thailand on Friday in Bangkok.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, noted that this year marks the beginning of China's 15th Five-Year Plan and also the start of the new Thai government's governance.
Facing a volatile international situation, Wang said, China is willing to work with Thailand to give full play to the coordinating role of the foreign ministers' consultation mechanism guided by the strategic consensus reached by the two heads of state.
Both sides should join hands to advance their respective modernization processes, jointly practice genuine multilateralism, create a new golden 50 years for China-Thailand friendship, and make new contributions to promoting the solidarity and development of the Global South as well as regional peace and stability, he said.
Noting that China has always placed Thailand in an important position in its neighborhood diplomacy, Wang said China is ready to continue to be a reliable strategic partner of Thailand, support the new Thai government in leading its people to follow a development path that suits its national conditions, and promote the building of a more stable, prosperous and sustainable China-Thailand community with a shared future.
It is believed that Thailand will continue to resolutely support China's great cause of peaceful reunification, he added.
Wang also called on the two sides to maintain high-level exchanges, enhance political mutual trust, strengthen the alignment of development strategies and initiate the formulation of the new five-year action plan.
He said that both sides should intensify efforts to crack down on transnational crimes, completely eradicate gambling and fraud, strengthen multilateral collaboration and jointly implement the four major global initiatives.
China has always advocated resolving differences between countries through dialogue rather than force, Wang said, extending the hopes that Thailand and Cambodia will consolidate the ceasefire situation, resume bilateral contacts, resolve border disputes as soon as possible and maintain a peaceful and stable environment.
As a common friend of Thailand and Cambodia, China is willing to continue to build a platform for the two sides to rebuild mutual trust and improve relations, he said.
For his part, Sihasak said that Thailand will, as always, attach great importance to its relations with China, firmly pursue the one-China policy, and consolidate the political foundation of bilateral relations.
Thailand is willing to enhance high-level exchanges with China, deepen all-round cooperation in various fields such as connectivity, economy and trade, and combating online gambling and telecommunications fraud, and promote the continuous development of the Thailand-China community with a shared future.
He said that Thailand highly appreciates the four major global initiatives and is willing to strengthen multilateral coordination with China.
Sihasak expressed the appreciation for China's efforts in actively promoting peace talks and mediating the border dispute between Thailand and Cambodia, adding that he looks forward to China continuing to play a constructive role.
The two foreign ministers also exchanged views on the Lancang-Mekong Cooperation (LMC) and East Asia cooperation, and agreed to enhance coordination and cooperation to actively build an LMC 2.0, promoting the building of a Lancang-Mekong community with a shared future to a new level.
Chinese, Thai FMs hold 3rd consultation mechanism meeting
