China’s Ministry of Finance (MoF) announced Thursday that it will issue two batches of electronic savings bonds worth up to 40 billion yuan (US$6.5 billion), Xinhua news agency reported. It will mark the first such bond issue from the ministry this year, it said. The first batch of the bonds, worth up to 24 billion yuan, carries a term of three years with a fixed annual interest rate of 5 percent, the report said, citing a ministry statement. The second batch will comprise five-year bonds worth up to 16 billion yuan, bearing a fixed annual interest rate of 5.41 percent, it said. The bonds will be issued from April 10 to 19. Electronic savings bonds are considered more convenient than other types, as interest can be paid directly into investors’ accounts, the report noted.
– Contact HKEJ at [email protected]