China Issues 20 Billion Yuan T-bonds

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Last updated at: (Beijing Time) Monday, December 10, 2001

China Issues 20 Billion Yuan T-bonds

China began Monday to issue treasury bonds worth 20 billion yuan (2.4 billion U.S. dollars), according to the Ministry of Finance.

China began Monday to issue treasury bonds worth 20 billion yuan (2.4 billion U.S. dollars), according to the Ministry of Finance.

The treasury bonds are 7-year fixed rate bonds. The annual interest rate was set at 2.90 percent after bidding which involved 60 underwriters. The interest will be paid annually.

The T-bonds are meant for institutional investors only and willbe traded on the inter-bank bond market after the issuance is completed next Monday.

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