China to auction 28bn yuan 50-year bonds next Wednesday

SHANGHAI: China's Ministry of Finance said on Wednesday that it will auction 28 billion yuan ($4.4 billion) in super-long-term 50-year government bonds next Wednesday.

After the auction, the bonds will be issued from Nov. 10 to 14 and begin secondary market trading on Nov. 16, it said in a statement published on the website for China's major bond issues.

This is the second batch of such bonds issued this year, with the first batch of 30 billion yuan auctioned in May.

The ministry started to issue the super long-term bonds in 2009. It issued two batches of such bonds in 2010.