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China to Issue 50 Billion Yuan Long-term Government Bonds
China's Ministry of Finance is scheduled to issue 50 billion yuan of long-term government bonds in the second half of the year, in a bid to increase fixed assets investment.
The 17th session of the Standing Committee of the Ninth National People's Congress (NPC), approved the legislation for the bonds, which had been submitted by China's State Council.
Li Peng, chairman of the NPC Standing Committee, pointed out that the issue of the 50 billion yuan of government bonds is necessary and practical since it could help maintain and promote the current growth momentum of the Chinese economy.
He added that the State Council should take good care and good advantage of the bonds and the NPC Standing Committee will strengthen its supervision on the usage of the bonds.
Most of the government bonds will be injected into middle and west China, and to those projects already underway, according to Li.
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