This year, the issuance of China's ultra-long-term special government bonds has reached nearly 90%.

The second renewal of China's ultra-long-term special national debt in 2025 has completed its tender work. With the issuance of this bond, the overall issuance scale of ultra-long-term special national debt this year has reached 1.148 trillion yuan, with an issuance progress of 88.3%. Song Xiangqing, Vice President of the China Commercial Economic Society, stated that the overall pace of issuance of ultra-long-term special national debt this year has shown the characteristics of "preliminary start and balanced progress", ensuring that funds are matched with project progress. The issuance of ultra-long-term special national debt has had multiple positive effects on optimizing economic structure, boosting market confidence, and resolving debt risks.