China to issue 38 bln yuan worth of electronic savings bonds

China's Ministry of Finance said it plans to issue two batches of electronic savings bonds totaling 38 billion yuan (about 5.52 billion U.S. dollars).

One batch of bonds with a value

not exceeding 19 billion yuan will have a maturity of three years and a fixed coupon rate of 3 percent, while the other batch of five-year bonds will come with a fixed coupon rate of 3.12 percent and issuance volume not topping 19 billion yuan, according to the ministry.

The two batches of bonds will be issued from April 10 to April 19. They will be the first and second batches of such bonds issued by the ministry this year.