China to issue 30 billion yuan treasury bonds

China will issue 30 billion yuan ($3.6 billion) in Treasury bonds starting on June 10, state media said on Sunday.
The Ministry of Finance would issue the two-year bills with a coupon of 2.4 percent, the Xinhua news agency said.
The ministry could expand the issue by another 20 billion yuan, Xinhua said, without elaborating.
The bonds would be offered to retail, not institutional investors, with a cap of one million yuan per buyer, it added.
China often issues bonds to cover budgetary needs. It issued a record 628 billion yuan in T-bonds in 2003 to help cover a widening deficit and fund spending on infrastructure.