China to auction 30b yuan in treasury bonds

China’s Ministry of Finance announced on Thursday plans to auction 30 billion-yuan ($4.21 billion) worth of book-entry discount treasury bonds. These 91-day bonds will be sold at a discounted price and mature at par value.

The specific bond price will be determined through a competitive tender process scheduled for Friday. Once issued, the bonds will become tradable on the securities market starting from August 7th.

This auction marks a continuation of the government’s financing strategy, as the value of this offering matches the previous sale conducted on July 26th.

Attribution: Xinhua