China issues first batch of treasury bonds

Ten billion yuan (1.64 billion U.S. dollars) in five-year book-entry treasury bonds have been issued by China's Ministry of Finance, the government department announced Monday.

It is the ministry's first issuance of book-entry treasury bonds this year, according to a ministry statement.

The interest rate for the bonds is fixed at 4.47 percent.

Interest will be paid annually on Jan. 7, while last year's interest and the principal will both be paid upon maturity on Jan. 7, 2019, the ministry said.

The bonds are being sold on the inter-bank bond market until Jan. 7 and will become tradable on Jan. 13, according to the statement.