China to issue 30 bn yuan of book-entry discount T-bonds

The book-entry discount treasury bonds valued at 30 billion yuan (about 4.21 billion US dollars) will be auctioned off by China's Ministry of Finance on Friday, the ministry announced on Thursday (Aug. 1).

With a term of 91 days, the bonds will be sold at a discounted price and mature at par value. The price will be determined through a competitive tender on Friday, according to a statement released by the ministry.

The bonds will become tradable on the securities market on Aug. 7, the ministry said.

The value of the auction was equivalent to the previous sale on July 26.

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