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October’s e-bond issues
Print Edition
THE Ministry of Finance said yesterday that it would issue two more batches of electronic savings bonds totaling 30 billion yuan (US$4.9 billion) next month.
One batch worth 18 billion yuan has a term of three years, with a fixed annual interest rate of 5 percent. The other batch of five-year bonds is worth 12 billion yuan at a fixed annual interest rate of 5.41 percent, said a statement on the ministry’s website.
The two bonds will be issued from October 10 to 19, with interest to be calculated from October10 and paid annually, said the statement.
These bonds are only open to individual investors, the ministry said.
Electronic savings bonds are more convenient than other types of bonds as interest can be paid through direct deposit into investors’ accounts.
These are the ninth and 10th batches of such bonds issued by the ministry this year.
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