China issues 30 billion yuan in seven-year T-bonds

BEIJING - The Ministry of Finance (MOF) announced Wednesday that it will issue 30 billion yuan (4.78 billion U.S. dollars) in seven-year book-entry treasury bonds.

The issuance marks the ministry's third issuance of book-entry treasury bonds this year, according to a statement posted on the MOF's website.

The interest rate for the bonds is fixed at 3.42 percent.

Interest will be paid annually on January 24, while the last half-year's interest and the principal will both be paid upon maturity on January 24, 2020, the ministry said.

The bonds will be sold from January 24 to 28 and become tradable on exchange markets starting January 30, according to the statement.