The Ministry of Finance has decided to carry out market-making support operations for government bonds.

On April 21st, the Ministry of Finance issued a document stating that in order to support the market-making of national bonds, improve the liquidity of the secondary market for national bonds, and strengthen the yield curve of national bonds that reflects market supply and demand relationships, the Ministry of Finance has decided to carry out national bond market-making support operations. The relevant matters are notified as follows: The direction of the operation is to follow the sale, the securities for operation are the 2025 Registered Interest-bearing (twenty-four periods) national bonds, and the 2026 Registered Interest-bearing (four periods) national bonds, with an operation amount of 3.9 billion yuan. Starting from April 24, 2026, they will be listed and traded with the national bonds of the same period. The winning participating institutions shall deposit the sale proceeds into the designated fund account of the Ministry of Finance no later than April 22, 2026, and the payment date shall be based on the receipt of funds in the account designated by the Ministry of Finance. Regarding the notification of matters related to the implementation of national bond market-making support operations in April 2026 Finance Office Bond [2026] No. 67 Participating institutions in the national bond market-making support, China Foreign Exchange Trading Center and National Interbank Borrowing Center, Central National Debt Registration and Settlement Co., Ltd.: In order to support the market-making of national bonds, improve the liquidity of the secondary market for national bonds, and strengthen the yield curve of national bonds that reflects market supply and demand relationships, the Ministry of Finance has decided to carry out national bond market-making support operations (hereinafter referred to as this operation). The relevant matters are notified as follows: 1. Main arrangement of the operation 2. Bidding restriction 3. Arrangements for the listing of sales bonds and payment of operation funds Starting from April 24, 2026, they will be listed and traded with the national bonds of the same period. The winning participating institutions shall deposit the sale proceeds into the designated fund account of the Ministry of Finance no later than April 22, 2026, and the payment date shall be based on the receipt of funds in the account designated by the Ministry of Finance. Payee name: Ministry of Finance of the People's Republic of China Opening bank: National Treasury General Repository Transfer-in bank branch number: 011100099992 Account number for payment of the 2025 Registered Interest-bearing (twenty-four periods) national bonds: 270-25124-12 Account number for payment of the 2026 Registered Interest-bearing (four periods) national bonds: 270-26104-10 4. Others In addition to complying with the above provisions, matters related to this operation shall be implemented in accordance with the Notice of the Ministry of Finance and the People's Bank of China on the issuance of the (Finance Treasury [2016] No. 154) and other relevant regulations. General Office of the Ministry of Finance April 17, 2026 This article is selected from the Ministry of Finance. GMTEight Editor: Chen Wenfang.