Government bonds issue take medium and long-term national debt as the main type, in order to meet longer requirement in project cycle of the infrastructure.

国债发行以中长期国债为主，扭转了国债中短期化的趋势，以适应基础设施项目周期较长的需要。

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There are several reasons, one of the more subtle among them being that the insurer can fund the product entirely with medium- and long-term bonds, since there are no payments in the short term.

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He also exited long- and medium-term bonds for fear that rising rates would zap them.

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The railway ministry, which is China's largest corporate-bond issuer, used all of last year's quota for long-dated bonds and also raised an additional 50 billion yuan via short-term bills and medium-term notes.

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