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Last updated at: (Beijing Time) Monday, January 27, 2003

China to Issue 150bn Yuan of Treasury Bonds in 2003

Report entitled Research on Policy of Treasury Bonds 2003 published lately says that China should adopt the policy of proper treasury bonds investment this year, and if China is going to attain the seven-percent annual growth rate of GDP this year, 150bn yuan of treasury bonds fund will be needed.


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Report entitled Research on Policy of Treasury Bonds 2003 published lately says that China should adopt the policy of proper treasury bonds investment this year, and if China is going to attain the seven-percent annual growth rate of GDP this year, 150bn yuan of treasury bonds fund will be needed.

The report holds that it won't run a big risk or incur serious negative effects by continuing to implement the appropriate state bonds investment policy. In other words, it will neither break through the three-percent deficit rate nor through the upper limits of debt rate of 60 percent. Besides, it won't exert a great pressure on the national finance to repay capital with interest in the coming 5-10 years.

In the meanwhile, the report proposes that funds flow of state bonds be made in the following three aspects.

First, it is better that state-bond funds be invested in projects with a short cycle but a quick return.

Secondly, in the principle of efficiency, state-bond investment should follow the phased characteristic of economic development, and center on the adjustment of economic structure and upgrading of industrial technology, supporting the technological reform of enterprises and the industrialization of high-and-new technologies.

Thirdly, in line with the principle of promoting a sustainable development in society and national economy, treasury bonds investment should focused on the water conservancy, environmental protection, ecological construction and education etc. In the meantime, importance should be attached to the construction of communications and transportation in connection with the improvement of China's investment climate. While strengthening the construction of urban utilities, great efforts should be made for treasury-bond investment to improve the rural infrastructure that has a bearing on farmers' life, agro-production and on the development of the countryside as well.

By PD Online Staff Zhu Lizhen




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