BEIJING -- China's Ministry of Finance (MOF) said on Wednesday it will float 32.52 billion yuan ($5.01 billion) in seven-year book-entry treasury bonds starting Thursday.

Related readings:  China to sell 91-day book-entry discount T-bonds  China to auction 30b yuan 3-year bonds

The bonds will carry a mature term of seven years with a fixed annual interest rate of 3.83 percent, according to a statement posted on the ministry's website. Interest on the bonds will be paid annually, the statement said.

The bonds will be sold to the public from May 12 to May 16 and become tradable on securities markets on May 18, the statement said.