(Updates prices at 1000 GMT)

SHANGHAI, March 6 (Reuters) - Chinese government bond

yields declined on Wednesday with the 10-year yield falling to a

22-year low on expectations that authorities will keep monetary

conditions easy as they aim to revive domestic consumption and

meet economic growth targets.

The 10-year government bond yield fell to

2.283%, the lowest since April 2002. The yield has fallen 27

basis points from levels of 2.55% at the end of January.

At its annual National People's Congress (NPC), which

started on Tuesday, China announced a 2024 economic growth

target of around 5%, a tight fiscal deficit target of 3% of GDP

and plans to keep fiscal policy "pro-active".

Expectations are for monetary policy also to be supportive.

Many analysts have described the 5% target as ambitious if

there isn't more stimulus.

People's Bank of China Governor Pan Gongsheng said in a

press conference on Wednesday that there is room to further cut

banks' reserve requirements.

Pan's comments spurred investors' expectations for

further cuts in bank reserve ratios and improved funding

conditions and pushed yields lower across the curve, said Zou

Wang, an investment director at Shanghai Anfang Private Fund

Management.

The 30-year government bond yield fell to a

record low of 2.4375%, according to brokers' quotes from

platform Dealing Matrix.

Yields in the world's second-largest economy have fallen

steadily after China's benchmark lending rates were cut sharply

last month.

The rush into bonds has pushed 10-year yields

below rates on the central bank's lending facility

and caused spreads between 10 and 1-year bonds

to shrink by 10 basis points in two weeks.

At the NPC, China also announced plans to issue 1 trillion

yuan ($139 billion) of special ultra-long term treasury bonds,

which are not included in the budget.

These ultra-long term special bonds will support

technological innovation, energy security and other areas, the

head of the state planner National Development and Reform

Commission (NDRC) told a news conference in Beijing on

Wednesday.

Societe Generale analysts said that decision to issue

more ultra-long bonds, possibly for the next few years, meant

the current strong domestic

appetite

for bonds with tenors of 30-years and more "is likely to

diminish from this point onwards".