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Chongqing bonds date

China's Ministry of Finance yesterday said it will issue a total of 5.8 billion yuan (US$849 million) of local government bonds on behalf of west China's Chongqing Municipality next Monday.

The bonds will take the form of book-entry national treasury bonds and be sold to investors between next Monday and Wednesday, and will become tradable from next Friday on the inter-bank market and securities exchanges, the ministry said.

The bonds have a fixed coupon of 1.7 percent, according to the bond bidding that ended yesterday. The coupon is higher than that of the previous two batches of bonds, with interest to be paid annually.

China plans to float 200 billion yuan of local government bonds this year. The first batch of Xinjiang Uygur Autonomous Region government bonds was issued on March 30.

Three more batches of local bonds will be issued this month, said sources with China Government Securities Depository Trust and Clearing Co.


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