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China Issued 2001 First Account Treasure Bond
By way of public bid, the Ministry of Finance has recently issued the 2001 first account bond in China's inter-bank bond market through the China Government Securities Depository Trust & Clearing Co., Ltd.
The 2001 first account bond is the 10-year floating-rate bond with an issuance amounting to RMB20 billion yuan. The bond interest will be paid annually, with its interest rate to be fixed at the rate for one-year bank deposits plus the base margin from the value date of the year.
Present at the bidding were 56 members for the 2001 government bonds in the inter-bank bond market, the valid bid received in the public totaled RMB 45.74 billion yuan. Through the public bid, the base margin of this issuance was fixed at 0.57 percent with the interest rate of the first year to be at 2.82 percent.
The issuance of the bond is targeted at the institutional investors in the inter-bank bond market. The 2001 first account is issued and starts to figure the interest as from March 23, 2001, and the issuance will be ended on March 28.
By PD Online staff member Huang Ying
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