China to sell $3 bn in T-bonds

Beijing, Sep 28 (IANS) China will sell 20 billion yuan ($3.2 billion) in treasury bonds.

The certificate treasury bonds, the third batch this year, will be sold Oct 10-19 to individual investors, China Daily Friday quoted the finance ministry as saying.

They include 12 billion yuan of three-year bonds with an annual interest rate of 4.76 percent and 8 billion yuan of five-year bonds with an annual rate of 5.32 percent.

Interest will be calculated from the day of purchase and the principal and interest will be paid upon maturity, the ministry said in a statement Thursday.

Individual investors can buy the bonds from 38 designated banks, including the Industrial and Commercial Bank of China, the Agricultural Bank of China, Bank of China and China Construction Bank.