China's Ministry of Finance: Issuing 1 trillion yuan in anti-epidemic special treasury bonds in a stable and orderly manner
China News Service, Beijing, August 26 (Reporter Liu Yuying) Xu Hongcai, Vice Minister of Finance of China, stated in Beijing on the 26th that the issuance of 1 trillion yuan (RMB, the same below) of anti-epidemic special treasury bonds has been completed smoothly and orderly. .
Xu Hongcai made the above remarks at the regular briefing on the State Council policy held by the State Council Information Office that day.
Wang Xiaolong, Director of the Treasury Department of the Ministry of Finance of China, who attended the same briefing with him, introduced that the 1 trillion yuan anti-epidemic special national debt has completed the final issuance task on July 30. From the first issuance on June 18 to the completion of the issuance on July 30, a total of 16 anti-epidemic special treasury bonds were issued. Considering various factors, especially market demand, the 1 trillion yuan anti-epidemic special treasury bond is divided into three maturities, 5-year, 7-year, and 10-year. Among them, there are four five-year issuances totaling 200 billion yuan, two seven-year issuances totaling 100 billion yuan, and ten 10-year issuances totaling 700 billion yuan; the issuance structure is reasonable and the issuance rhythm is stable.
According to Wang Xiaolong, investors have actively subscribed, with multiple subscribers, with an average bidding multiple of 2.54 times, which is higher than the average bidding multiple of general book-entry interest-bearing national bonds in the second quarter. The average issuance rate of anti-epidemic special treasury bonds is 2.77%, which is an average of 10 basis points lower than the yield of the treasury bond secondary market in the previous 5 days. It is well connected with the treasury bond secondary market and is in line with investor expectations. The evaluations from all walks of life are positive and believe that the issuance of anti-epidemic special treasury bonds is more transparent and the issuance pace is relatively stable.
Wang Xiaolong also said that the funds raised by the special national debt for the fight against the epidemic have been released to the local government in advance. Localities are rushing to implement funds into specific projects. Some funds have already formed actual expenditures, and policy effects have gradually emerged. In the next step, the Ministry of Finance will strengthen the supervision of anti-epidemic special treasury bonds to ensure that the funds are effective. At the same time, we will further strengthen the management of the issuance of general treasury bonds and local government bonds, and smoothly complete the task of issuing government bonds throughout the year. (Finish)