Fourth batch of coronavirus-control bonds readied

(ATF) China will issue the fourth batch of special government bonds for coronavirus control amid efforts to balance epidemic mitigation with economic and social development, the Ministry of Finance said Thursday.

The 10-year fixed-rate bonds, worth 70 billion yuan ($10bn), will be available for tenders on July 15 and become tradable on July 20, according to a statement on the ministry’s website.

In June, the ministry announced the issuance of the first three batches of special government bonds for COVID-19 control, including 70bn yuan of 10-year bonds, 50bn yuan of five-year bonds and 50bn yuan of seven-year bonds.

China plans to run a fiscal deficit above 3.6% of GDP to fund recovery stimulus this year. The huge supply of debt has rippled through the local fixed-income market, helping to push up yields on China government bonds.