Wen Bin: next year's ultra-long-term special government bond issuance scale will reach 2 trillion yuan

On December 25th, under the requirements of the Central Economic Work Conference to strengthen the implementation of the "two new" policy and support the "two" projects, the issuance scale of ultra-long-term special government bonds in 2025 will usher in a strong expansion. < b > Wen Bin, chief economist of Minsheng Bank, believes that it will reach 2 trillion yuan. He also pointed out that another 1 trillion yuan of special government bonds will be used to support the six major banks to supplement the core first-tier capital , which is expected to increase the core first-tier capital adequacy ratio of the six major banks by about 1 percentage point. In terms of specific issuance arrangements, the centralized issuance time of ultra-long-term special government bonds and special project bonds will be misplaced to avoid the impact of excessive concentration of government bonds on the liquidity of the banking system. Tan Zhiguo, deputy general manager of China Investment Consulting Co., Ltd. told reporters that considering the peak consumption period and the peak period of project investment every year, it is expected that the ultra-long-term special government bonds will be issued in the first and second quarters, and the special project bonds will be issued in the early second quarter. According to the actual situation of economic operation, the Ministry of Finance will also dynamically adjust the issuance rhythm.