China's Treasury Bonds Well ReceivedThe 60 billion yuan (US$7.228 billion) worth of treasury bonds to be issued on May 1 will meet enthusiastic individual investors and be sold out quickly, the Ministry of Finance said Sunday.In a news release, the ministry said that the tax-free treasury bonds have become a good choice for ordinary Chinese since the government began to collect tax on the interest of personal bank savings last November. On March 1, China issued 50 billion yuan (US$6.024 billion) worth of treasury bonds to private investors. More than 45 billion yuan (US$5.421 billion) worth of the T-bonds, or 90 percent of the total, were sold within two weeks. The Ministry of Finance said that buyers of the upcoming T-bonds will have use their real names to match the real name system China introduced on bank savings on April 1 this year, an important step that is believed to help promote the development of the country's banking industry. |
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