Analysts say, the issuance scale, though lower than this year�s US$18 billion, observes China�s guidelines- continued proactive fiscal policy over the next year -which were recently decided at the Central Economic Working Conference.

The funds raised from issuing the treasury bonds will be used in five areas: ensuring capital input and construction for key projects; improving living standard for rural residents and raise their incomes; promoting technology advancements and enterprise technology transformations; accelerating the development of western regions; and go into the �Land for Grass� project, and maintaining sustainable development.

(china.org.cn by Tang Fuchun December 24, 2002)