China issues first batch of treasury bonds

BEIJING - Ten billion yuan (1.64 billion US dollars) in five-year book-entry treasury bonds have been issued by China's Ministry of Finance, the government department announced Monday.

It is the ministry's first issuance of book-entry treasury bonds this year, according to a ministry statement.

The interest rate for the bonds is fixed at 4.47 percent.

Interest will be paid annually on January 7, while last year's interest and the principal will both be paid upon maturity on January 7, 2019, the ministry said.

The bonds are being sold on the inter-bank bond market until January 7 and will become tradable on January 13, according to the statement.