China issues this year's second batch of ultra-long special treasury bonds

BEIJING, May 24 (Xinhua) -- China on Friday issued this year's second batch of ultra-long special treasury bonds.

This batch involves bonds with a term of 20 years. The bonds were issued at the Beijing Stock Exchange with a total sum of 40 billion yuan (about 5.63 billion U.S. dollars) and an interest rate of 2.49 percent.

It was China's first issuance of the 20-year ultra-long special treasury bonds this year.

China began issuing ultra-long bonds with terms of 30 years on May 17, and will begin issuing 50-year bonds on June 14. The issuance of the last batch of these bonds will be completed by mid-November.

Lian Ping, president of the China Chief Economist Forum, said that ultra-long special treasury bonds can stimulate current investment and consumption, lay a solid foundation for long-term, high-quality development, offer respite for local government finances, and bring other multifaceted benefits.

Ultra-long special treasury bonds typically refer to those with a tenor of more than 10 years.