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Mainland Successfully Issues RMB119B First Tranche of Special Government Bonds This Year with Winning Yield at 2.2%
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The results of the Mainlands first tranche of special government bond issuance in 2026 have been announced. The 20-year ultra-long special government bonds recorded a winning yield of 2.2%, with a bid-to-cover ratio of 3.73 times and a marginal multiple of 1.55 times, involving an issuance size of RMB34 billion. The 30-year ultra-long special government bonds recorded a winning yield of 2.2%, with a bid-to-cover ratio of 3.58 times and a marginal multiple of 2.42 times, involving an issuance size of RMB85 billion. (ta/u)


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