(Yicai) April 17 -- China’s National Development and Reform Commission and related agencies will form a final special bond project list as soon as possible to encourage local governments to speed up issuing and using special bonds.

The commission has finished preliminary screening of special bond projects for this year and has sent the results to the Ministry of Finance and the local governments, Liu Sushe, deputy head of the commission, said at a press conference today.

The Ministry of Finance is examining the cost-income balance of the projects and other issues, and local governments are preparing for issuance of these special bonds, he added. Special bonds worth CNY3.9 trillion (USD538.9 billion) are scheduled to be issued this year.

The central government has also decided to issue ultra-long special treasury bonds in consecutive years starting from 2024 and will use the money to implement the country’s major strategies and to build security capabilities in key areas, he stated. CNY1 trillion in ultra-long special treasury bonds will be issued this year.

Editor: Tom Litting