China issues 30 bln yuan worth of saving bonds

Chinese Ministry of Finance started to issue two more batches of certificate saving bonds worth a total of 30 billion yuan on Friday.

One batch of bonds worth up to 15 billion yuan have a maturity of three years and a fixed coupon rate of 2.38 percent, while the other batch of five-year bonds will come with a fixed coupon rate of 2.5 percent and issuance volume up to 15 billion yuan.

The issuance of the two bonds will end on May 19. These are the third and the fourth batches of bonds issued by the ministry this year. The bonds are very popular among the public as their interest rates outnumber those of deposits.