Support added for equipment upgrades

Chinese policymakers will significantly increase the issuance of ultra-long-term special treasury bonds in 2025 to stimulate consumption and fund key national projects, the country's top economic regulator said on Friday.

Economists said it is part of the country's broader efforts to spur domestic demand amid external uncertainties this year, saying policymakers will adopt "more proactive" fiscal and monetary policies to boost domestic consumption and expand effective investment.

Yuan Da, deputy secretary-general of the National Development and Reform Commission, said the special treasury bonds will be used to promote programs for large-scale equipment renewals and trade-in deals for consumer goods and further support major national strategies while building up security capacity in key areas.