What impact does the epidemic situation have on the development of China's national debt?

In the short term, it has a strong impact on the domestic economy, and the yield of the domestic bond market has also dropped significantly. There are some special features in the issue background, specific use, issue period, debt service, payment mechanism and issue method. The background of issuing special anti-epidemic bonds is that the COVID-19 epidemic has had a serious impact on China's economy and society. The specific purpose of special bonds is not only to fight the epidemic, but also to protect employment, basic people's livelihood and market players. The issuance period of special bonds is more flexible, and the principal and interest are borne by the central government. The payment mechanism adopts special transfer payment mechanism, and the distribution method is more market-oriented.