Business & Finance
China to sell electronic bonds
SHANGHAI: China's Ministry of Finance (MOF) plans to sell up to 40 billion yuan ($6.27 billion) worth of electronic bo
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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.