China to auction 30 bln yuan in 10-year special bonds on Sept 21
Published September 14th, 2007
China’s Ministry of Finance said it will sell 30 bln yuan in 10-year special treasury bonds directly to the market on Sept 21.
The ministry announced earlier this month that it will sell 200 bln yuan in special bonds directly to the market before the end of the year.
The ministry said at the time it would sell a 30 bln yuan batch of 15-year special treasury bonds on Monday and a then-undisclosed amount of 10-year bonds on Sept 21.
Its statement today implies that the final batch to be sold, also of 15-year maturities, will be 40 bln yuan.
The sale of these instruments is part of the funding efforts behind the establishment of the country’s new sovereign wealth fund.
These sales are part of a total 1.55 trln yuan that the ministry will issue to raise funds to buy around 200 bln usd in foreign exchange reserves from the People’s Bank of China.
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