The Ministry of Finance plans to issue the first renewal of the 2026 Book-Entry Interest-bearing (Phase V) Treasury Bonds.

The Ministry of Finance plans its first continuation issuance of 2026 book-entry coupon-bearing government bonds (Issue V). This continuation issuance is a 10-year fixed-rate coupon bond. The total face value of this competitive bidding issuance is 185 billion yuan, and no additional bids will be placed by Class A members. The coupon rate for this continuation issuance is the same as that of the same-period government bonds issued previously, at 1.75%. The interest commencement date and redemption/payment arrangements for this continuation issuance are the same as those of the previously issued government bonds of the same period. Interest will accrue starting from February 25, 2026, with semiannual coupon payments on February 25 and August 25 each year (if falling on a holiday, the payment will be postponed; the same applies hereinafter), and the principal will be repaid on February 25, 2036, together with the final coupon payment.