Guess who's making big moves? China just allocated a whopping 1 trillion yuan (that's about $139 billion!) in ultra-long special treasury bonds 💰, and it's all going into some seriously major projects and programs. 🚧🌆
The National Development and Reform Commission (NDRC), China's top economic planner, spilled the details on Saturday. Out of the total, 700 billion yuan is set to kickstart major national strategies and beef up security in key areas. 🔑 The remaining 300 billion yuan? It's going towards upgrading equipment and encouraging trade-ins for consumer goods. Talk about a tech glow-up! 📈🔄
So, what's on the agenda? Think new railways, highways, and airports along the majestic Yangtze River 🚂🛣️✈️. Plus, they're ramping up high-standard farmlands in northeast China 🌾 and pushing forward the shelterbelt program in the northeast, north, and northwest regions 🌳. Safe to say, China's infrastructure game is on point! 💪
The NDRC is teaming up with other authorities to make sure everything runs smoothly. They're all about enhancing monitoring and evaluation to get these projects rolling ASAP. 🎯🚀
This move is just the beginning! Starting this year and over the next few years, China plans to issue these ultra-long special treasury bonds annually, with 1 trillion yuan on deck for this year alone, according to the government's work report. Stay tuned, because things are heating up! 🔥
Reference(s):
China allocates 1 trillion yuan ultra-long special treasury bond funds
cgtn.com
