China’s economy shrank 6.8 per cent in the first quarter from a year earlier, the first contraction in decades, and Beijing dropped its annual growth target for the first time. Photo: Reuters
Coronavirus impact: China’s auction of 1 trillion yuan of special treasury bonds to begin this week, sources say
- China announced plans in May to sell 1 trillion yuan of special treasury bonds to help fund economic stimulus in the wake of the coronavirus pandemic
- According to the sources, 70 per cent of the bonds will have a 10-year term, 20 per cent will have a maturity of five years and the remainder will be seven-year bonds
China’s economy shrank 6.8 per cent in the first quarter from a year earlier, the first contraction in decades, and Beijing dropped its annual growth target for the first time. Photo: Reuters
