Bonds News
- First tranche of special bonds sold
Date: 30-Aug-2007 Sources: (Shenzhen Daily)
THE government sold 600 billion yuan (US$79 billion) in bonds yesterday, the first part of a 1.55 trillion yuan special bond issue, according to a Ministry of Finance official.
The 10-year treasuries were sold with a coupon of 4.3 percent, the China Securities Journal reported yesterday, citing an unidentified source. The interest rate compares with the yield of 4.23 percent on the similar-maturity bond issued in June. The government is setting up a new investment company that will use proceeds from the sale to buy part of US$1.33 trillion in foreign-exchange reserves from the central bank. The company aims to diversify the reserves from U.S. Treasuries to get higher returns.
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