China's central government is planning to issue treasury bonds (T-bond) worth RMB 110 billion (US$13.3 billion) in 2004, RMB 30 billion less than the amount in 2003.
The T-bond plan will help shift the focus of government investment to economic restructuring as well as social programs like health and education, the National Development and Reform Commission said.
The commission said that while the Chinese Government would maintain a certain scale of public borrowing next year, the main purpose would no longer be stopping a downward slide in the economy and stimulating growth.
Long-term T-bonds valued at a total of RMB 800 billion (US$96.3 billion) were issued from 1998 through 2003.
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