China to issue 2-year treasury bonds

China will issue 26 billion yuan (4.23 billion U.S. dollars) in two-year book-entry treasury bonds next week, according to a statement from the Ministry of Finance.

The ministry said the bonds will have a fixed interest rate, which will be decided through competitive tendering on July 18.

It added that the bonds will be sold on the interbank market between July 19 and 23 and will become tradable on the secondary market on July 25. Interest calculation will start on July 21.

This is the ministry's 15th issuance of book-entry treasury bonds this year.