This year, the issuance of ultra-long-term special national bonds totaling 1.3 trillion yuan has begun. Analysts believe that there will be a peak in issuance in May and June.

This year's issuance of super long-term special treasury bonds totaling 1.3 trillion yuan has begun. According to the arrangement, the Ministry of Finance will issue 34 billion yuan of 20-year bonds and 85 billion yuan of 30-year bonds on April 24, with a total issuance size of 119 billion yuan. Zhang Yi, chief economist of Financial Street Securities, said that overall, the pace of issuance of super long-term bonds in 2026 is consistent with that of 2025. To coordinate with the fund disbursement by the end of June, there will be a peak in issuance from May to June, with an estimated issuance amount of about 550 billion yuan in the first half of the year. This year's plan for the issuance of super long-term special treasury bonds still includes three maturity varieties of 20 years, 30 years, and 50 years, with a total of 23 issuances, one more than in 2025 for the 30-year maturity variety.