The Ministry of Finance is to issue US$4.2 billion worth of 10-year Treasury bonds to fund infrastructure projects and supplement budgetary requirements. The yield of the bonds, which are payable every six months, is to be decided at a public tender. The bonds will first be issued to domestic investors, before being listed on the interbank market and Shanghai and Shenzhen stock exchanges. This will be the fourth batch of government debt to be issued this year, bringing the total to US$19.9 billion. China had outstanding treasury debt of US$334 billion by the end of February.