China plans to sharply increase funding for ultra-long treasury bonds in 2025 to stimulate business investment and consumer-focused initiatives. Special treasury bonds will fund large-scale equipment upgrades, trade-ins for consumer goods, and subsidies for digital products like smartphones, tablets, and smartwatches. Beijing amplifies fiscal stimulus to combat economic challenges, including a property crisis and weak consumer demand. Authorities approved projects worth 100 billion yuan for 2025 and may issue a record 3 trillion yuan in special treasury bonds.
