MoF plans big increase in STBs
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Beijing is reportedly planning to significantly ramp up special treasury bond (STB) issuance this year.
On December 24, Reuters reported that China’s finance ministry (MoF) intends to issue RMB 3 trillion worth of STBs in 2025, up from RMB 1 trillion in 2024.
Fun fact: MoF doesn’t count STBs toward ...