(Xinhua)
Updated: 2008-02-23 15:54

China will issue 30 billion yuan ($4.2 billion) worth of "certificate treasury bonds" beginning March 1, the first such issue this year.

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The T-bonds include 24 billion yuan worth of three-year bonds that carry a fixed annual interest rate of 5.74 percent, and six billion yuan worth of five-year bonds with a 6.34-percent interest rate, said the Ministry of Finance in a notice issued on Friday.

The purchasers must register their real names to buy the bonds, which can serve as security for loans, but cannot be transferred, said the ministry.

Interest on the bonds will be calculated from the day of purchase, and purchasers will receive the principal and interest when the certificate T-bonds fall due.

The public can buy the bonds from March 1 to 15 at the retailing outlets of 39 designated underwriting institutions, including the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank, as well as some other commercial banks.