The bonds, which pay interest directly into investors' accounts, will be released in two batches the 9th and 10th issues of such bonds this year, MOF said in a statement.

The 9th batch, a 3-year bond, will be auctioned at an average annual yield of 4.76 percent. The 10th batch, a 5-year bond, will be sold at an annual yield of 5.32 percent.

The issuance can be cancelled if China's central bank adjusts interest rate before July 20.