# HuRun

Beijing Turns to Long-Term Debt and Family Subsidies to Repair Growth — Markets and Tech Watch Closely

Beijing plans to issue large volumes of ultra-long special sovereign bonds in 2026 to support major projects, shore up state banks and give local governments funding room, while lawmakers propose big increases in childcare subsidies financed by long-term bonds. The measures underline an active fiscal response to slowing growth but raise questions about future debt burdens, market reaction and the sustainability of bond-financed social spending.