Mega bond float to back fiscal package

China plans to issue long-term construction treasury bonds totaling 1 trillion yuan over the next two years to support the country's 4 trillion yuan stimulus package, a central government official said.

"The central government is likely to issue 500 billion yuan in bonds annually over the coming two years. The remaining money in the stimulus package is likely to be composed of local fiscal revenue, local government bonds and low-interest loans from State-owned banks," 21st Century Business Herald quoted an anonymous official with the National Development and Reform Commission (NDRC) as saying.

Concrete plans related to the package are expected to be announced at the Central Economic Work Conference, which will be held next month.