China will start selling an initial batch of long-dated bonds this week, the Ministry of Finance announced Monday, as Beijing looks to increase support for the world's second-largest economy. The Ministry of Finance did not specify the number of bonds that will be issued.
A debt crisis in China's vast property sector has been a major drag on the world's number two economy. Photo: STR / AFPChina will start selling an initial batch of long-dated bonds this week, the Ministry of Finance announced Monday, as Beijing looks to increase support for the world's second-largestwill begin issuing some 30-year bonds on Friday as part of a planned sale of more than $138 billion of debt, according to a notice posted to the ministry's website.
Leaders have set a target of around five percent for this year's growth, a figure seen as ambitious by many economists.The bond sale had been hinted at in recent months by Beijing, with Premier Li Qiang saying in March that such measures would be used to support major projects of strategic significance.
Consumer prices in the country have been in positive territory for three straight months, official data showed Saturday, but domestic spending remains relatively weak. Premier Li said at the time that achieving growth targets this year would"not be easy", given the"lingering risks and hidden dangers" still present in the economy.
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