China News Service Client Beijing, June 18 (Reporter Li Jinlei) On the evening of the 17th, the Ministry of Finance announced that it will tender the first batch of anti-epidemic special government bonds on June 18. The key is that individuals can also buy!

　　On June 18, the bidding for the first and second phases of special anti-epidemic bonds totaled 100 billion yuan. The 70 billion yuan in the third-stage anti-epidemic special national debt was tendered on June 23.

Screenshot from the Ministry of Finance website.

The first wholesale bank of 170 billion yuan

　　According to the notice issued by the Ministry of Finance, the first-term treasury bonds are 5-year fixed-rate interest-bearing bonds with a total face value of 50 billion yuan in competitive bidding; the second-phase treasury bonds are 7-year fixed-rate interest-bearing bonds with a total face value of competitive bidding of 50 billion yuan ; The three-term treasury bonds are 10-year fixed-rate interest-bearing bonds with a total face value of 70 billion yuan in competitive bidding.

　　The first and second anti-epidemic special treasury bonds are all tendered on June 18, 2020, and interest calculation will begin on June 19, and the distribution will be conducted until June 19, and will be listed and traded from June 23. The third-stage anti-epidemic special treasury bond was tendered on June 23, 2020, and interest began to be calculated on June 24. The tender was closed for distribution on June 24, and the transaction was listed on June 30.

　　The interest of the first and second phases of the special anti-epidemic government bonds is paid annually, and the interest is paid on June 19 (holiday extension) every year; the interest of the third phase of government bonds is paid half a year, and the interest is paid on June 24, December 24 (holiday extension); The bidding process shall be carried out in accordance with the "Rules for Tendering and Issuing Treasury Bonds for Bookkeeping in 2020".

Released before the end of July

　　The relevant person in charge of the Treasury Department of the Ministry of Finance said on the 17th that this year's 1 trillion yuan anti-epidemic special treasury bonds will adopt a market-based approach, all of which will be issued to members of the book-entry treasury underwriting syndicate for public bidding.

　　Anti-epidemic special treasury bonds will be issued from the middle of June and will be issued before the end of July.

　　Anti-epidemic special national debt maturity varieties, on the basis of matching the use period of fiscal funds, fully considered the needs of the construction of the national debt yield curve, focusing on the 10-year period, and appropriately matching the 5-year and 7-year periods to further enhance the national debt yield curve Effectiveness of key points.

Individuals can also buy

　　According to reports, similar to general book-entry treasury bonds, anti-epidemic special treasury bonds are not only listed and circulated in the inter-bank bond market, but also listed and circulated across the market in the exchange market and the commercial bank counter market. Individual investors can open accounts in the exchange market and commercial bank counter market to participate in the distribution and trading of special anti-epidemic government bonds.

　　For details, you can check the transaction regulations of the relevant venues, or consult with ICBC, Agricultural Bank of China, China Construction Bank, China Merchants Bank, Bank of Beijing, Bank of Nanjing and other banks that have opened book-entry treasury counter business.

What is the interest rate level?

　　Unlike the savings treasury bonds sold only to individual investors, the anti-epidemic special treasury bonds are book-entry treasury bonds, and the interest rate is determined through bidding and tendering by members of the treasury underwriting syndicate, and the market will follow the market.

　　At present, the yields of 5-year, 7-year and 10-year book-entry treasury bonds are about 2.5%, 2.8% and 2.8%.

　　It should be noted that the payment account for the special anti-epidemic treasury bonds announced in the issuance notice only accepts the underwriting payment of the book-entry treasury underwriting syndicate, and does not accept individual transfers.

　　At the same time, anti-epidemic special treasury bonds are the same as general book-entry treasury bonds and cannot be redeemed in advance. They can be traded in the secondary market. The transaction price fluctuates according to market conditions, and profits and losses are borne by investors.

Data figure: Bank teller is working. Photo by Ai Qinglong

Is it worth buying?

　　Zhao Xijun, deputy dean of the School of Finance and Economics of Renmin University of China, told reporters at Chinanews.com that under normal circumstances, the risk and rate of return should be considered. From the perspective of risk, the national debt is issued by the central government, with the highest credit rating, and there is no risk; from the perspective of income, the yield of national debt also has advantages, and it is also exempt from interest income tax, so it is more attractive. Considering the significance of anti-epidemic and other aspects, the appeal will be higher.

　　Wen Bin, chief researcher of China Minsheng Bank, told reporters from China News that special bonds have the characteristics of a combination of security and profitability. The yield is higher than the bank deposit interest rate. It is the highest risk-free bond. For investors, Buying Treasury bonds is not only safe, but also has relatively good returns.

　　"At the same time, the current treasury bonds' liquidity in the secondary market is also relatively good, so from the perspective of safety, profitability, and liquidity, for individual investors, buying special treasury bonds is also a good investment." Wen Bin Say.

Data map: a bank staff counts the currency. China News Service reporter Zhang Yunshe

How to spend special national debt?

　　This year's government work report proposes to issue 1 trillion yuan of special anti-epidemic government bonds. This is a special initiative in a special period and the third time China has issued special national debt.

　　This money is mainly used for local public health and other infrastructure construction and anti-epidemic related expenditures. It is used to protect employment, basic people's livelihood, and market players, including support for tax and fee reductions, rent and interest rate cuts, and expansion of consumption and investment.

　　Moreover, there are special requirements for the use of this money. According to the government work report, a special transfer payment mechanism will be established, with funds directly reaching the grass-roots level of the city and county, directly benefiting enterprises and the people. That is to say, all these 1 trillion yuan are transferred to the localities by "through train", the central government does not stay at all, and the province only acts as a "passing god of wealth".

　　So, will you buy special national debt? (Finish)