The China Export and Import Bank (Eximbank) announced on November 10 that it has successfully issued six billion yuan (about US$750 million) in one-year financial bonds through public bidding over the past few days.

This is the third time this year that Eximbank has issued policy financial bonds through public bidding, the latest with a tendered interest rate of 2.91 percent.

A spokesman for Eximbank said the new issue carries a fixed interest rate to be paid annually, and the principal will be repaid when it becomes due.

He said the bank has so far fulfilled this year's plan to issue financial bonds through public bidding and has reached the goal of reforming the policy bank's capital-raising mechanism.

Since its founding five years ago, Eximbank has established an effective risk-prevention mechanism in extending loans, the quality of the bank's credit assets remains high, and the principal and interest of mature financial bonds have all been paid, ensuring the rights and interests of creditors.