China to Use Public Auctions for Sale of Special Ultra-Long Debt
- Bond issuance to start from 2Q at soonest, people familiar say
- Nation announced plan for 1 trillion yuan of such issuance
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China plans to issue its special ultra-long sovereign notes mainly through public auctions in the interbank market rather than through targeted sales, people familiar with the matter said.
The government will start selling the bonds from the second quarter at the soonest, they said, with one of them adding that the tenors may be as long as 50 years. China’s top economic planning body is currently reviewing projects the nation can spend the proceeds on, according to the people, who asked not to be identified as the information is private.