$Hang Seng Index (800000.HK)$ China | The National Developme...

$Hang Seng Index (800000.HK)$ China | NDRC: Will continue to issue ultra-long-term special national bonds next year.

Director of the National Development and Reform Commission Zheng Zhajie stated that next year they will continue to issue ultra-long-term special national bonds, increase support for the 'dual' construction related to the implementation of major national strategies and key areas of security capabilities. They will also issue a 100 billion yuan central budget investment plan for next year, as well as a 100 billion yuan list of 'dual' construction projects within the year, supporting localities to accelerate preliminary work.

Zheng Zhajie said at a press conference of the State Council Information Office that efforts are needed to stabilize the real estate market, adjust housing purchase restrictions to release rigid and improve housing demand, accelerate the absorption of existing commodity housing, reduce interest rates on existing house loans, and promptly improve land, fiscal, tax, financial, and other policies to accelerate the establishment of a new model for real estate development.

Zheng Zhajie also emphasized the need to ensure necessary fiscal expenditures, accelerate the expenditure progress, increase the positive promotion role in economic development, and intensify support for local debt replacement to resolve debt risks.