(Bloomberg) — China will start selling the first batch of its 1 trillion yuan ($138 billion) of ultra-long special sovereign bonds this week, as officials ramp up efforts to support the world’s No. 2 economy.
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The central government will begin a flurry of such sales this year by issuing 40 billion yuan of 30-year bonds Friday, according to a notice by the Ministry of Finance. That ended months of speculation over when the bonds — the fourth of their kind in 26 years — would be rolled out, after a broad plan was announced in March.
President Xi Jinping’s government is stepping up fiscal support to help the economy, which is facing pressure from a housing crisis and weak consumer confidence. Government spending on infrastructure — which the bonds could fund — will be key to ensuring China hits its annual growth target of about 5%, which is above…
