The latest round of issuance comes as Beijing looks to ramp up spending to defend the economy from the onslaught of 145% US tariffs on Chinese goods, which can make Beijing's 5% growth target for 2025 hard to achieve.
China issued the first batch of special sovereign bonds for the year on Thursday as part of the stimulus announced by authorities to soften the blow from simmering trade tensions with the US.
The Ministry of Finance issued three-part special sovereign bonds which had a planned size of 286 billion yuan ($51.6 billion). The bond sale is to fund the fiscal package approved in March, but unlike sovereign debt, special bonds are issued for specific purposes and aren't accounted for in China's record high fiscal deficit target of 4% for the year.
