China to issue 32b yuan in book-entry T-bonds

BEIJING - The Ministry of Finance said Wednesday it will start selling 32.09 billion yuan ($5.18 billion) of seven-year book-entry treasury bonds on Thursday.

The bonds, the 10th batch of its kind to be floated this year, carry a fixed interest rate of 3.14 percent and will be sold to the public from June 7-11, the ministry said in a statement posted on its website.

The bonds will become tradable on June 13 through the national inter-bank bond market and over the counter at designated commercial banks.

The ministry said interest will be calculated from the day of purchase and paid annually, with the principal and final interest paid upon maturity on June 7, 2019.