China's lawmakers Tuesday began to examine a draft proposal submitted by the State Council for the issuance of another 50 billion yuan of long-term treasury bonds during the latter half of the year.
Finance Minister Xiang Huaicheng elaborated on the draft proposal to the on-going 17th meeting of the Standing Committee of the Ninth National People's Congress.
He said that the pro-active financial policy, adopted in 1998, should be continued to inject investment into infrastructure in a bid to push domestic demand.
The additional issuance of T-bond will be mainly used to support the development in China's central and western areas, the minister said.
Early this year, China decided to issue 100 billion yuan of long-term T-bonds to improve infrastructure projects. China has issued 210 billion yuan of long-term T-bonds over the past two years.
(People’s Daily)
