03 Jul 2025

Beijing to frontload STB issuance in Q3

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Beijing is accelerating ultra-long special treasury bond (STB) issuance.
According to the Q3 bond issuance plan, published by the finance ministry (MoF) on Tuesday (Yicai):

MoF will issue 11 ultra-long STBs in Q3, including four brought forward from a previous schedule.

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