China to float 20b yuan in certificate T-bonds

BEIJING -- The Ministry of Finance said Thursday that it will sell 20 billion yuan ($3.2 billion) in certificate treasury bonds after the National Day holiday.

The certificate treasury bonds, the third batch this year, will be sold from Oct 10 to Oct 19 to individual investors, the ministry said in a statement.

The bonds include 12 billion yuan of three-year bonds with an annual interest rate of 4.76 percent and 8 billion yuan of five-year bonds with an annual interest rate of 5.32 percent.

Interest will be calculated from the day of purchase and the principal and interest will be paid upon maturity, according to the statement.

Individual investors can buy the bonds from 38 designated banks, including the Industrial and Commercial Bank of China, the Agricultural Bank of China, Bank of China and China Construction Bank.