China's ultra long-term special gov't bonds to shore up investment, consumption: official

BEIJING, March 6 (Xinhua) -- China's plan to issue ultra long-term special government bonds starting from 2024 and over the coming few years will help shore up the investment and consumption at the moment and lay the foundation for long-term high-quality development, a senior Chinese official said Wednesday.

The funds raised through these bonds will mainly support areas such as scientific and technological innovation, integrated urban-rural development, coordinated regional development, food and energy security, and high-quality development of the population, Zheng Shanjie, head of the National Development and Reform Commission (NDRC), told a press conference held on the sidelines of the ongoing session of the national legislature.

Zheng said that the NDRC is working closely with relevant parties to formulate a specific action plan on the issuance of the bonds, which will be implemented after approval.