Xu Hongcai, Deputy Minister of the Ministry of Finance, said: Since this year, the Ministry of Finance has issued a quota of 1.29 trillion yuan for some new special bonds in 2020. As of March 31, the nation’s newly issued special bonds amounted to 1.08 trillion yuan, accounting for 84% of the quota. The scale of issuance increased by 63% compared with the same period last year. It is expected that the established issuance task will be completed two and a half months in advance. From the perspective of the issuance situation, the average issuance period of new special bonds this year is 14.5 years, of which the long-term bonds with 10-year maturities and above are worth 933.1 billion yuan, accounting for 86%, which is an increase of 52 percentage points compared with the full-year ratio of 34% in 2019. Compared with previous years, the time limit is more reasonable and matches the actual time limit of the project. In general, the use of newly issued special bonds by local governments is better.