On January 16, 1981 (the 11th day of the twelfth lunar month), the China government decided to issue treasury bonds.

The State Council meeting passed the "Regulations on Treasury Bonds of the People's Republic of China," which determined that treasury bonds of the People's Republic of China will be issued starting from 1981. The regulations also stipulate that treasury bills shall not be circulated as currency, shall not be freely traded, and the repayment period shall be five years.