Chinese authorities have kicked off plans to sell Rmb1tn of long-dated bonds, as Beijing raises spending to stimulate the economy. The People’s Bank of China has asked brokers for advice on pricing the sale of the first batch of the sovereign bonds, according to two people who received requests.
“Compared to a global standard, China still has significant room, potentially trillions of yuan worth of bond issuance over the next five to 10 years, to let the central government take up more leverage and boost investments,” Zuo added. More long-dated bonds are expected to be issued in subsequent years to strengthen important areas such as food security, energy and the manufacturing supply chain, premier Li Qiang said this year.
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