China has allocated 93.6 billion yuan (about 13.37 billion U.S. dollars) of special ultra-long-term Treasury bills to finance equipment renewal projects in key sectors, the National Development and Reform Commission (NDRC) said on Thursday.
These funds will support 4,500 projects linked, in particular, to industry, energy and electricity, education, medical care, and the modernization of old residential elevators. They are expected to generate a total investment of more than 460 billion yuan.
In addition, direct funds have been allocated to local governments to continue supporting the renewal of commercial trucks, city buses and new energy buses, as well as agricultural machinery.
The move comes after the Ministry of Finance’s recent announcement that the government would continue to issue special ultra-long-term treasury bonds in 2026 to promote national strategies, strengthen security capabilities in key areas, and promote large-scale equipment upgrades and consumer goods exchange programs.
The NDRC said it would intensify coordination and monitoring with relevant departments, strengthen project and fund management throughout the process, and ensure effective policy implementation.
