Ministry Auctions 30 Billion Yuan In Construction Bonds
Source: Xinhua |
November 9, 2011, Wednesday
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Print Edition
Print Edition
CHINA'S Ministry of Railways yesterday auctioned 30 billion yuan (US$4.74 billion) worth of bonds to finance the country's cash-starved railway construction.
The bonds are divided into two categories: 15 billion yuan of seven-year paper and 15 billion yuan of 20-year paper. The interest rate of the seven-year bonds is 4.63 percent, while that of the 20-year is 5.22 percent. The issuance immediately attracted investors as the Ministry of Finance had earlier halved the tax on the interest earnings of bonds issued by the railway ministry between the 2011-2013 period, in a bid to make the bonds more attractive.
The bonds are divided into two categories: 15 billion yuan of seven-year paper and 15 billion yuan of 20-year paper. The interest rate of the seven-year bonds is 4.63 percent, while that of the 20-year is 5.22 percent. The issuance immediately attracted investors as the Ministry of Finance had earlier halved the tax on the interest earnings of bonds issued by the railway ministry between the 2011-2013 period, in a bid to make the bonds more attractive.
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