, China

China will float US$6.48 billion in electronic savings bonds

Bonds will be issued from Aug.10 to 19.

The Ministry of Finance said yesterday it will issue two batches of electronic savings bonds. The two batches will be the seventh and eighth issuances of such bonds this year.

The seventh batch is worth US$3.9 billion and carries a term of three years with a fixed annual interest rate of 5%. The eighth issuance of five-year bonds is worth US$2.6 billion at a fixed annual interest rate of 5.41. Interest will be calculated from Aug. 10 and paid annually.

The bonds will be available to individual investors at counters of the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications and China Guangfa Bank, MOF said.

Electronic savings bonds are considered more convenient than other types since interest can be paid directly into the investor's account.

 


 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!