Beijing issues US$4.7bn in 10-year treasuries

About US$4.65 billion in 10-year special treasury bonds were issued on Monday, reported state media. A second tranche totaling US$27 billion will be offered to the general public. The Chinese Ministry of Finance launched the first tranche of 15-year special treasury bonds totaling US$4.26 billion on September 18. The second tranche, on offer until Wednesday, has an annual yield of 4.46 percent, and will be tradable from September 28 through the national inter-bank bond market and stock markets. Another batch of US$4.26 billion bonds will be issued from September 27 to October 9 and will be tradable from October 12. The ministry announced earlier this month it would issue the special bonds as part of a plan to raise US$200 billion to fund the country's new foreign exchange investment firm.