China will kickstart CNY1 trillion special Treasury bond projects whilst also urging local governments to speed up the issuance and use of CNY3.9 trillion local special bonds to boost investment, Liu Sushe, deputy director of the National Development and Reform Commission told a press conference Wednesday.

Funds from the additional CNY1 trillion special Treasury bonds announced in 2023 were allocated to about 15,000 projects, with all projects set to start construction by end-June, said Liu.

While the CNY1 trillion ultra-long-term special treasury bonds announced this year are also under preparation, focusing on support for high-level scientific and technological self-reliance, promoting urban-rural integrated development and improving food and energy securities, according to Liu.