China to issue US$7.7b ultra-long special treasury bonds

China will issue this year's fourth batch of ultra-long special treasury bonds on July 24, the Ministry of Finance said Wednesday.

The bonds worth 55 billion yuan (US$7.7 billion) will be issued with a term of 30 years and an interest rate depending on competitive bidding.

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

China saw the issuance of such bonds with terms of 20 years, 30 years and 50 years on May 24, May 17 and June 14, respectively. The issuance of the last batch of these bonds will be completed by mid-November.

The bond issuance is an important part of this year's proactive fiscal policies, which will help boost market confidence and expectations, and better support economic development, according to analysts.