Markets

China rail ministry sells 20-year bonds at 5.33pc,7-year at 4.93pc

Published October 26, 2011 Updated October 26, 2011 05:44am

It also auctioned 10 billion yuan of seven-year bonds at a yield of 4.93 percent.

To make railway bonds more attractive, China's Ministry of Finance announced earlier this month it would cut tax for companies on interest earned from bonds issued by the railway ministry between 2011 and 2013.

The government has also explicitly said it will back the ministry's bonds, Thomson Reuters publication IFR reported on Oct.14.

Copyright Reuters, 2011