On July 17, according to the website of the Ministry of Finance, the Ministry of Finance plans to issue the 2024 ultra-long special treasury bonds (Phase IV) (30-year term). The details are as follows:

　　I. Bond Elements

(1) Variety. This issue of treasury bonds is a 30-year fixed-rate interest-bearing bond.

(2) Issue amount. The total face value of this issue of treasury bonds through competitive bidding is 55 billion yuan, and no additional subscription by Class A members will be conducted.

(3) Coupon rate. The coupon rate of this issue of treasury bonds will be determined through competitive bidding.

(4) Principal and interest payment dates. Interest on this issue of treasury bonds starts accruing on July 25, 2024, with interest paid semiannually on January 25 and July 25 each year (postponed for holidays, the same below), and the principal will be repaid and the final interest payment made on July 25, 2054.

　　II. Competitive Bidding Arrangements

(1) Bidding time. 10:35 to 11:35 a.m. on July 24, 2024.

(2) Bidding method. This issuance adopts a single-price competitive bidding method, with the interest rate as the bidding target.

(3) Issuance system. Bidding issuance will be conducted through the Ministry of Finance government bond issuance system.

(4) Bid position limits. The bid position spread for each underwriting syndicate member is 45 bid positions. The bidding position range is the arithmetic average of the 30-year treasury bond yield in the China Treasury Yield Curve published by the Ministry of Finance for the 1st to 5th working days before the bidding date (including the 1st and 5th working days), plus or minus 10% (rounded to 0.01%).

　　III. Payment of Issuance Proceeds and Issuance Fees

Winning underwriting syndicate members shall pay the issuance proceeds into the account designated by the Ministry of Finance by July 25, 2024 (including July 25). The payment date shall be based on the date the designated account of the Ministry of Finance receives the funds.

Payee name: Ministry of Finance of the People's Republic of China

Account bank: State Treasury General Treasury

Account number: 270—247704—1

Bank code: 011100099992

The issuance fee for this issue of treasury bonds is 0.06% of the underwriting face value of each underwriting syndicate member.

　　IV. Distribution and Listing Dates

This issue of treasury bonds will be distributed from the end of bidding to July 25, 2024, and will be listed for trading from July 29.