China starts to issue 30.9 billion yuan book-entry T-bonds

China on Friday began issuing 30.96 billion yuan (3.87 billion US dollar) worth of book-entry treasury bonds with terms of maturity of three years.

The T-bonds, the fourth batch of its kind issued this year, carry an annual interest rate of 2.12 percent, the Ministry of Finance said in a statement.

The interest of the T-bonds will be calculated from April 17, the starting day of the retail sales of the bonds, and the issue will be completed by April 20, said the ministry.

The ministry noted that the T-bonds are available to investors with accounts for investment in fund, share and bonds investment at China Securities Depository and Clearing Co. or China Treasury Bonds Depository and Clearing Co.

The bonds will also be floated for cash trading from April 26 at the national inter-bank bonds markets or the stock markets.

The ministry said that 28 of its 61 members selected through public bidding as underwriting institutions were awarded the rights to distribute the T-bonds.

Major underwriters for the issuance of the T-bonds include the Agricultural Bank of China, Bank of Shanghai, and Bank of China.

Source: Xinhua