China Issuing 16 Billion Yuan In T-Bonds

BEIJING, June 19 (Xinhua) -- China will issue 16 billion yuan worth of treasury bonds, starting tomorrow, the Ministry of Finance announced here today.

China has issued 79.4 billion yuan worth of treasury bonds in five batches so far this year. The fifth batch would have an eight- year term with an annual interest rate of 3.28 percent.

The interest rate would be calculated from tomorrow and be paid on annual base, the ministry said.
The bonds would be allowed to be traded at the interbank securities market and the Shanghai and Shenzhen stock exchanges at the ending of the issue, it added.

According to an agreement signed here today, the fifth batch of treasury bonds would be underwritten by 59 financial institutions, including the Commercial and Industrial Bank of China, the Guotai- Jun'an Securities Co., Ltd, the China Life Insurance company and others.

China's 14 newly-born securities investment funds signed on the agreement as special underwriters, for the first time.