China issues 93.6 billion yuan of treasury bonds to support equipment upgrades

China has issued the first batch of 93.6 billion yuan of ultra-long-term special treasury bonds to support equipment upgrades for this year, the state planner said on Thursday, as part of steps to shore up the economy.

The bond funds will support equipment upgrades in sectors including industry, energy, education, healthcare, and the renovation of old residential elevators, driving total investment to more than 460 billion yuan, the National Development and Reform Commission said in a statement.

In December, China allocated 62.5  billion yuan in ultra‑long special treasury bond funds to support its 2026 consumer‑goods trade‑in programme, and expanded the scope of equipment upgrades to cover more livelihood‑related sectors.

A state planning official said on Tuesday the country plans to roll out new policies from 2026 to 2030 to spur domestic consumption and tackle "prominent" imbalances in supply and demand.

Reuters