Chinese authorities plan to issue 3 trillion yuan ($411 billion) in special treasury bonds next year, marking the largest on record, sources reveal.

The move aims to stimulate the faltering economy through subsidies, business upgrades, and innovation investments.

The issuance represents a sharp rise from this year’s 1 trillion yuan and comes amid expectations of increased U.S. tariffs under Donald Trump’s administration. Treasury yields rose slightly following the announcement, reflecting market reactions to the unprecedented scale of debt issuance.

Experts see the measure as a bold step to counter deflationary pressures and support growth in the world’s second-largest economy.