On April 24, this year's super long term special treasury bond were officially issued. According to the issuance arrangement of 2025 ultra long term special treasury bond recently released by the Ministry of Finance, there were two ultra long term special treasury bond for bidding on April 24, which is also the first issuance of 20-year and 30-year ultra long term special treasury bond this year. Specifically, the ultra long term special treasury bond (Phase I) in 2025 is a 20-year fixed rate interest bearing bond with a total face value of 50 billion yuan in competitive bidding; In 2025, the ultra long term special treasury bond (Phase II) is a 30-year fixed rate interest bearing bond with a total face value of 71 billion yuan in competitive bidding. The interest of these two treasury bond will be calculated from April 25, 2025, and the interest will be paid semi annually. This year's Government Work Report proposed to issue 1.3 trillion yuan of ultra long term special treasury bond, an increase of 300 billion yuan over the previous year. According to the arrangement released by the Ministry of Finance, there are three types of ultra long term special treasury bond: 20-year, 30-year and 50-year bonds. A total of 21 bonds were issued, starting in April and ending in October, mainly from May to September. The 20-year and 30-year ultra long term special treasury bond will be launched on April 24, and the 50 year ultra long term special treasury bond will be launched on May 23. "The annual issuance plan of ultra long term special treasury bond has been implemented, and the capital pressure may be controllable as a whole under the broad currency expectation." According to the analysis of the reporter by the chief economist of CITIC Securities, from the perspective of issuing rhythm, there were four ultra long term special treasury bond issued in May, August and September, three in June and July, and two in April. In combination with the issuance of special treasury bond funded by central financial institutions, it is expected that the supply of treasury bond will be large in May. Considering that the annual issuance quota has been determined, the issuance pressure of ultra long term special treasury bond will be relatively controllable in each month. It is expected that the capital pressure will be controllable in the long run under the tone of monetary coordination with finance. Zhao Wei, chief economist of Shenwan Hongyuan Securities, also said in an interview that this year's 1.3 trillion yuan super long term special treasury bond were launched on April 24 and completed on October 10. From the perspective of issuing rhythm, this round of ultra long term special treasury bond was issued nearly one month earlier than 2024. This year, 1.3 trillion yuan of ultra long term special treasury bond are planned to be issued, 800 billion yuan will be used to give greater support to "dual" projects, and 500 billion yuan will be used to strengthen the expansion and implement the "two new" policy. Lan Fo'an, Secretary of the Party Leadership Group and Minister of the Ministry of Finance, said at the 2025 annual meeting of the China Development Forum a few days ago that 300 billion yuan of ultra long term special treasury bond was arranged this year to support the exchange of old for new consumer goods, an increase of 150 billion yuan over the previous year. The scale of funds has doubled compared to last year, which helps to directly reduce consumer shopping costs and emphasizes the combination of benefiting people's livelihoods and promoting consumption. By increasing pension levels and providing medical subsidies, residents' consumption ability and willingness are continuously enhanced. (New Society)