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BIZCHINA / News
China to issue US$3.68b 20-year T-bond
(Xinhua)
Updated: 2007-08-16 13:05
China will begin to issue 28 billion yuan (US$3.68 billion) worth of
book-entry treasury bonds on Thursday, the 13th batch of its kind issued
this year.
The 20-year T-bonds carry an annual interest rate of 4.52 percent, the
Ministry of Finance said in a statement on Wednesday.
The bonds will be sold via the national inter-bank bond market, the stock
market and commercial banks from August 16 to 21, and will be available
for trading on the stock market and over the counter at designated
commercial banks from August 24.
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With a fixed interest rate, the interest will be paid every half year.
The ministry said the T-bonds were available to investors with accounts
for investments in funds, shares and bonds at China Securities Depository
and Clearing Co., China Treasury Bonds Depository and Clearing Co. or
designated commercial banks.
China issued book-entry treasury bonds totaling 652.72 billion yuan last
year, 150 billion yuan more than in 2005.
The government pledged earlier this year to cut the issuance of treasury
bonds in 2007 by a "modest" amount, in a bid to reduce its financial
deficit and expand channels for direct financing.
(For more biz stories, please visit Industry Updates)
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