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China to float US$6.7 bln in treasury bonds
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China's Ministry of Finance (MOF) announced on Wednesday it would float 46 billion yuan (6.7 billion U.S. dollars) of treasury bonds in the next 20 days.

This includes 26 billion yuan of book-entry T-bonds and 20 billion yuan in certificate T-bonds.

The 26 billion yuan book-entry T-bonds is the 12th batch of its kinds to be issued by the ministry. They will be sold via the national inter-bank bond market and stock markets between July 24 and July 28, and begin trading on July 30, according to a statement on the ministry's website.

The six-month book-entry T-bonds, with a face value of 100 yuan, will be sold at 98.348 yuan, realizing a return of 3.41 percent annually, said the MOF.

After issuing the book-entry bonds, the ministry will also issue 20 billion yuan in certificate T-bonds in early August, the fourth batch this year.

The bonds include 14 billion yuan with a maturity term of three years and an annual interest rate of 5.74 percent, and 6 billion yuan worth of T-bonds with a maturity term of five years and an annual interest rate of 6.34 percent.

The certificate T-bonds, whose interest will be calculated from the date of purchase and paid only once at or after the date of maturity, will be issued between Aug. 1 and Aug. 10 by designated underwriting institutions.

The ministry said the T-bonds would be available to the public who could purchase them at retailing outlets of the members of 39 underwriting institutions selected in 2004 for the issuance of certificate T-bonds.

The underwriters include the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank, as well as some joint-stock commercial or city banks.

(Xinhua News Agency July 24, 2008)

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