China's major auto manufacturer Dongfeng Automotive Corp. started selling its bonds on December 22.

The '98 Dongfeng Automobile Bond will be sold across the country from through January 20, according to Shanghai Security News reports on December 22.

The new bond, with an annual interest rate of 3.78 percent and a maturity of three years, has a total face value of 300 million yuan (36 million USdollars). All interest and principal will be paid lump sum after the maturity.

Dongfeng has also planned to set up a special fund one year before the maturity of the bond for reimbursement. (Xinhua)