Savings bonds welcome sales boom

　　Recently, Treasury bonds have experienced a sales boom.

On March 10, the first batch of savings bonds (certificate type) in 2024 were officially issued.

On the day of the sale, many investors lined up in front of the bank in advance.

"I arrived at around 9 a.m., and all the savings bonds here were sold out, too fast." Ms. Liu from Beijing said in an interview with a reporter from the Economic Daily.

The account manager of a Bank of China outlet in Fengtai District, Beijing, told reporters that the outlet's 3-year and 5-year savings bonds were all sold out in about half an hour after the sale started.

The sales boom of treasury bonds is not only happening in Beijing. The sales of savings treasury bonds are also booming in many banks in other cities such as Qingdao, Shandong and Yangzhou, Jiangsu.

　　According to the announcement issued by the Ministry of Finance, the savings bonds issued this time are divided into two tranches, namely the first tranche and the second tranche in 2024. The issuance period is from March 10 to March 19.

Both tranches of treasury bonds adopt the form of fixed interest rates and fixed terms, with a maximum issuance total of 30 billion yuan, providing investors with stable income expectations.

Among them, the first phase has a term of 3 years, the maximum issuance amount is 15 billion yuan, and the annual coupon rate is 2.38%; the second phase has a term of 5 years, the maximum issuance amount is 15 billion yuan, and the annual coupon rate is 2.5%.

　　It is understood that, in fact, the phenomenon of "second flash" buying of savings treasury bonds is not uncommon. Savings treasury bonds, as non-tradable RMB bonds issued by the Ministry of Finance to individual investors within the territory of the People's Republic of China, have always been favored by investors. .

Lou Feipeng, a researcher at the Postal Savings Bank of China, said that against the backdrop of lower deposit rates, the yield on savings bonds is higher than the interest rate on deposits of the same term, further increasing their appeal to investors, resulting in savings bonds being sought after by investors.

　　"Savings treasury bonds have characteristics and advantages that financial products do not have." Dong Ximiao, chief researcher of China Merchants Union, said that savings treasury bonds are an investment product with both safety and profitability, and are suitable for those who prefer stable returns and do not have high liquidity requirements. investor.

When investors' risk appetite declines and market investment returns decline, savings bonds are more likely to be welcomed by investors.

Dong Ximiao believes that savings bonds have three major advantages: first, the starting amount for purchasing savings bonds is relatively low, usually starting at 100 yuan; second, they are relatively safe, and the financial department is responsible for repaying principal and interest, which can be said to be supported by national credit. Third, savings bonds do not have to pay interest tax, so they have a higher yield than bank deposits and are safer than ordinary bank financial products.

　　Recently, "ultra-long-term special treasury bonds" have also received widespread attention from all walks of life.

Both are "treasury bonds". What are the similarities and differences between savings bonds and ultra-long-term special bonds?

The reporter asked experts for advice on this issue of common concern to the people.

"Both savings treasury bonds and special treasury bonds are treasury bonds and are supported by national credit. There is no difference between the two in this respect." Lou Feipeng said that the main differences between the two are as follows: First, savings treasury bonds are included in the general public budget and included in the fiscal budget. deficit, while special treasury bonds are included in the government fund budget and are not included in the fiscal deficit; second, savings treasury bonds are used to make up for fiscal deficits, and the use of funds is uncertain, while special treasury bonds have clear and specific fund uses; third, the frequency of issuance of savings treasury bonds Higher, the maturity of government bonds is shorter and the interest rate is relatively lower, while the frequency of issuance of special government bonds is lower and the maturity of government bonds is longer.

Currently, the maturity of my country's long-term treasury bonds is generally 10 years or more, which means that the issuance period of ultra-long-term special treasury bonds will in principle be longer than 10 years, and the interest rate will be relatively higher.

　　For investors who did not snap up the savings bonds this time, experts said that in accordance with the practice in previous years, there are still plans to issue savings bonds during the year. Investors with allocation needs are recommended to pay attention to the subsequent savings bond issuance plan and prepare in advance.

(Economic Daily reporter Su Ruiqi)