The highly concerned super long term special treasury bond finally landed. On May 13, the Ministry of Finance announced the arrangement for the issuance of general treasury bond and ultra long term special treasury bond in 2024. The 1 trillion yuan ultra long term special treasury bond planned to be issued this year are divided into three categories: 20 years, 30 years and 50 years. Among them, there are 7 units with a 20-year term, 12 units with a 30-year term, and 3 units with a 50-year term, all of which pay interest on a six-month basis. According to the arrangement, the Ministry of Finance will issue 2024 extra long term special treasury bond (Phase I) (30-year term) through public bidding on May 17, with a total face value of 40 billion yuan. The coupon rate will be determined through competitive bidding. This treasury bond will be distributed from the end of bidding to May 20, 2024, and will be listed for trading from May 22. What we need to remind you is that the ultra long term special treasury bond to be issued is bookkeeping treasury bond, not the recently favored savings treasury bond. After listing, book entry treasury bond can be traded in the national inter-bank bond market and the bond market of stock exchanges. China has previously issued three special treasury bond. Before that, China has issued three special treasury bond in history, respectively in 1998, 2007 and 2020. In 1998, 270 billion yuan of special treasury bond were issued to the four major state-owned banks to supplement the capital of wholly state-owned commercial banks; In 2007, another 1.55 trillion yuan of special treasury bond was issued as the founding capital of the State Foreign Exchange Investment Corporation; In 2020, we will issue 1 trillion yuan of special anti epidemic treasury bond. Dong Ximiao, the chief researcher of China Merchants Association, said that as the fourth special treasury bond issued by China, this issuance of ultra long term special treasury bond has three meanings. First, it will stimulate investment, expand consumption and help build a modern industrial system; Secondly, it helps to reduce the leverage ratio of local governments and prevent local debt risks; The third is to boost market confidence, stabilize expectations, and promote the acceleration of macroeconomic recovery and recovery. The interest of the first treasury bond is paid semi annually. According to the issuance arrangement, this year's super long term special treasury bond will be issued from May 17 to the middle of November, and the interest is paid semi annually. Specifically, seven 20-year super long-term special treasury bond will be issued this year, of which two will be issued for the first time and five will be issued for the second time, as early as May 24; 12 30-year ultra long term special treasury bond, including 3 for the first time and 9 for the second time, which were issued as early as May 17; Three 50 year ultra long term special treasury bond, including one for the first time and two for the second time, were issued as early as June 14. On May 13, the Ministry of Finance also issued the Notice on Issues Related to the Issuance of 2024 Super Long term Special treasury bond (Phase I) (hereinafter referred to as the Notice). The Notice clearly states that the current treasury bond is a 30-year fixed rate interest bearing bond with a total face value of 40 billion yuan through competitive bidding, and the coupon rate is determined through competitive bidding. The interest of the current treasury bond will be calculated from May 20, 2024, and the interest will be paid semi annually. The interest payment dates are May 20 (postponed on holidays, the same below) and November 20 of each year. The principal will be repaid and the last interest will be paid on May 20, 2054. The competitive bidding period is from 10:35 am to 11:35 am on May 17, 2024, through the issuance of government bonds by the Ministry of Finance