NW China region sells 5.5b yuan gov't bonds

Source: Xinhua | August 11, 2014, Monday |

Online Edition

NORTHWEST China's Ningxia Hui Autonomous Region raised 5.5 billion yuan (US$894 million) from a local government bond sale today.

Ningxia is the only region in western China included in a pilot program that saw 10 regions nationwide issue and repay debts themselves.

It auctioned five-year, seven-year and 10-year local government bonds at 3.98-percent, 4.17-percent and 4.26-percent flat yields, with comparable treasuries on the secondary market.

The debts issued by Ningxia received top-notch triple-A ratings from Dagong Global Credit Rating Co Ltd.

The fund will be used to finance major infrastructure projects and a new industrial zone. A portion will also go to aid the progress of industrial upgrades for local industries, the regional finance department said.

In the past, China's Ministry of Finance issued and repaid all local government debts. In May, the State Council, or the cabinet, approved a 2014 pilot program for 10 regions to directly float and repay local government bonds.

Finance

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

NW China region sells 5.5b yuan gov't bonds

Email this to your friend