The arrangements for second-quarter government bond issuance have been announced, and institutions believe that issuance is expected to increase significantly in the second quarter.

ME News announcement, March 31 (UTC+8). The Ministry of Finance released the relevant arrangements for the issuance of key-maturity government bonds, short-term government bonds, ultra-long-term general government bonds, and savings bonds for the second quarter of 2026. Looking at key-maturity government bonds, 19 key-maturity government bonds will be issued in the second quarter of 2026, which is 3 more than in the same period of 2025. 10-year government bonds are an important pricing benchmark for the capital market; in the second quarter of 2026, 6 10-year government bonds will be issued, which is 1 more than in the same period of 2025. Regarding the bond issuance volume for the second quarter, a research report from Zhongji Securities suggests that the 2026 deficit ratio target continues the higher level of 2025. The issuance pace of government bonds in the first quarter shows a distinct front-loaded feature, similar to the same period last year. Based on the assumption of stronger efforts early on, government bond issuance in the second quarter is expected to see a broadening of supply. A research report from CITIC Futures also believes that government bond supply in the second quarter may still be on the fast side. The issuance arrangements for the special bonds and ultra-long-term special bonds that have not yet been announced have drawn market attention. (Source: JIN10)