The Ministry of Finance said the first auction of 2026 special treasury bonds
for capital injection into central financial institutions (Phase I) will be held
Oct 8. The issue is a 5-year fixed-rate, coupon-bearing bond with a total
competitive offering of 150 bln yuan; the coupon will be set by competitive
bidding. Allocation will run from auction close through Oct 9, and the bonds are
scheduled to begin trading Oct 13. A separate competitive tender for a 7-year
tranche is set for Nov 18.