Special bonds aim to promote demand, growth

发行超长期国债有助于刺激内需 支撑经济持续向好

China's plan to sell 1 trillion yuan ($138 billion) in ultra-long-term treasury bonds marks its latest move to bolster fiscal support for the economy, a step that experts say will stabilize expectations, boost domestic demand and shore up growth.

中国计划发行1万亿元的超长期国债，标志着中国加强了对经济的财政支持。专家表示，这一举措将有助于稳定预期、刺激内需并支撑经济持续向好。

The issuance of 1 trillion yuan in ultra-long central special sovereign bonds will begin on Friday and run until mid-November. Three tenors are being planned — 20-year, 30-year and 50-year bonds, the Ministry of Finance said on Monday.

根据财政部5月13日发布的消息，1万亿元超长期特别国债将于5月17日首发，到11月中旬发行完毕，包括20年期、30年期和50年期。

"The ultra-long bond issuance marks the introduction of a new policy tool that will be vital for supporting the government's investment in key projects, which will give full play to the crucial role of government investment in shoring up economic growth," said Zhang Liqun, a researcher at the macroeconomic research department of the Development Research Center of the State Council.

国务院发展研究中心宏观经济研究部的研究员张立群表示，超长期国债的发行标志着新政策工具的引入，这对于支持政府投资重大项目至关重要，从而充分发挥政府投资带动经济增长的重要作用。

The country aims to raise funds for major national strategies and build up security capacity in key areas, especially in fields including technological innovation, coordinated regional development, ensuring grain and energy security, and the high-quality development of the population.

我国发行超长期国债，旨在为实施重大国家战略筹集资金，并加强重点领域安全能力建设，主要用于支持技术创新、区域协调发展、粮食和能源安全以及高质量的人口增长等领域。

Experts said the issuance and use of the bonds will not only expand effective demand and help achieve the annual growth target this year, but also will be conducive to fostering new quality productive forces and promoting high-quality development in the long run.

专家表示，债券的发行和使用不仅将扩大有效需求，帮助实现今年的经济增长目标，而且从长远来看也将有助于培育新质生产力，促进经济高质量发展。

Luo Zhiheng, chief economist at Yuekai Securities, said the ultralong bond issuance will help expand demand, consolidate the foundation for economic recovery and optimize the economic structure.

粤开证券首席经济学家罗志恒表示，发行超长期国债有助于扩大需求，巩固经济复苏的基础，优化经济结构。

Regarding China's plan to issue ultra-long, special-purpose treasury bonds for several consecutive years, Liu Sushe, deputy head of the National Development and Reform Commission, said the country has drafted an action plan to support its key strategies and enhance its capacities to ensure security in key areas.

关于我国连续几年发行超长期特别国债的计划，国家发展改革委副主任刘苏社4月在新闻发布会上表示，国家发展改革委会同有关方面已经研究起草了支持国家重大战略和重点领域安全能力建设的行动方案。

Liu told a news conference in April that the focus will be on achieving greater self-reliance and strength in science and technology, promoting integrated urban and rural development, and enhancing the capabilities of ensuring grain and energy security.

刘苏社介绍，在支持领域方面，重点聚焦加快实现高水平科技自立自强、推进城乡融合发展、提升粮食和能源资源安全保障能力等方面的重点任务。

英文来源：中国日报

翻译&编辑：丹妮

审校：齐磊、高琳琳

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