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BIZCHINA / Center
China 10-year special bonds increased to 35b yuan
(Agencies)
Updated: 2007-09-21 14:24
China's Ministry of Finance on Friday increased the size of its latest
auction of 10-year special bonds to 35.09 billion yuan (US$4.67 billion)
from 30 billion yuan due to strong demand, traders said.
The auction yield came in at 4.46 percent, below market expectations
between 4.50 and 4.55 percent.
Traders said strong demand came from big Chinese banks and insurers
because there was a shortage of bonds for that maturity.
The bonds are part of the ministry's plan to sell 200 billion yuan of
special bonds directly to the market by the end of this year, which will
fund a new agency that is being set up to invest some of China's foreign
exchange reserves abroad.
(For more biz stories, please visit Industry Updates)
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