China disburses 200b yuan in ultra-long special treasury bonds for 2026 equipment upgrades

BEIJING - China has disbursed all 200 billion yuan ($29.39 billion) of ultra-long special treasury bonds to support equipment upgrades this year, the country's top economic planner announced on Friday.

The sum has been allocated by the National Development and Reform Commission (NDRC) for equipment upgrades in 2026 under the large-scale equipment upgrades and consumer goods trade-in programs.

The NDRC has recently issued the third batch of equipment upgrade project lists and funding arrangements, covering sectors such as energy and power, logistics, education, elderly care facilities, retail and commercial facilities, and elevator installation in old residential communities.

The full-year 200 billion yuan, disbursed in three batches, supports around 11,000 projects across 22 sectors, providing strong support for accelerating industrial upgrading, promoting green development, improving people's welfare and strengthening safety guarantees.

Investment in the purchase of equipment and machinery grew 9.3 percent year-on-year in the first five months of 2026, accounting for 17.5 percent of total investment, up 2.2 percentage points from the same period last year, NDRC data showed.

The commission will work with relevant departments to strengthen whole-process closed-loop management and fully leverage the effectiveness of central funding, according to an NDRC official.