(China Daily)
Updated: 2007-07-24 11:24

China Yangtze Power Co plans to sell 8 billion yuan(US$1.06 billion) in corporate bonds domestically to buy generators, Caijing magazine said, without citing sources.

The Beijing-based magazine said the bonds would be sold over two years. China Vanke Co and China Petroleum and Chemical Corp are also among companies seeking to sell bonds.

China's government issued rules last month giving the stock market regulator the power to approve bond sales by publicly traded companies as it seeks to expand the country's capital markets.