Chinese Ministry of Finance announced on Friday that it will issue 27.15 billion yuan (US$3.88 billion) worth of book-entry treasury bonds, the seventh batch of its kind of the year.

The seven-year bonds, with a fixed interest rate of 4.01 percent, will be issued from May 19 to May 22. The bonds will begin trading on May 26.

Interest will be calculated from May 19 and paid annually. The principal would be returned at maturity in 2015, the ministry said in a statement on its website.

It would be the seventh batch of book-entry T-bonds issued this year, totaling 194 billion yuan, the ministry said.

China also started issuing the first electronic savings bonds this year. The three-year e-savings bond with a fixed annual interest rate of 5.74 percent will end issue on May 31, with interest to be calculated from May 16 and paid annually, said the ministry.

(Xinhua News Agency May 17, 2008)