China to increase ultralong treasury bond funding in 2025
Funds to support consumer subsidies and business equipment upgrades
Policymakers committed to shoring up economy, step up support

BEIJING, Jan 3 Reuters China will sharply increase funding from ultralong treasury bonds in 2025 to spur business investment and consumerboosting initiatives, a state planner official said on Friday, as Beijing ramps up fiscal stimulus to revitalise the faltering economy.

Special treasury bonds will be used to fund the two new initiatives, said Yuan Da, deputy secretarygeneral of National Development and Reform Commission NDRC at a press conference.

The size of ultralong special government bond funds will be sharply increased this year to intensify and expand the implementation of the two new initiatives, Yuan said.

The two new initiatives include a subsidy programme for durable goods, where consumers can tradein old cars or appliances and buy new ones at a discount, and a separate one that subsidises largescale equipment upgrades for businesses.

Households also will be eligible for subsidies to buy three types of digital products this year, including cell phones, tablet computers, smart watches and bracelets, Yuan said.

In December, the NDRC said Beijing had fully allocated all proceeds from 1 trillion yuan in ultralong special treasury bonds in 2024, with about 70 of proceeds financing two major projects and the remainder going towards the new initiatives.

China will also…