China to issue 750 billion worth of treasury bonds

China will issue 750 billion yuan ($108 billion) worth of special treasury bonds next week, the Ministry of Finance said in a statement on Friday.

The ministry said in a statement on its website that the special treasury bonds will be used to raise fiscal funding to support economic and social development.

The action will take place on Dec 12. The bonds will be issued to designated domestic banks in the inter-bank bond market, according to the statement. The People's Bank of China, China's central bank, will conduct open market operations with relevant banks.