China will issue additional 1 trillion yuan of treasury bonds to support post-disaster recovery and reconstruction and improve disaster prevention, reduction and relief capabilities

The central government will issue additional 1 trillion yuan of treasury bonds in the fourth quarter of this year. All the additional treasury bonds will be arranged to local governments through transfer payments to support post-disaster recovery and reconstruction and make up for shortcomings in disaster prevention, reduction and relief, and improve China's ability to withstand natural disasters. On October 24, the Sixth Session of the Standing Committee of the 14th National People's Congress voted to adopt the resolution of the Standing Committee of the National People's Congress on approving the State Council's issuance of additional treasury bonds and the 2023 central budget adjustment plan.