SHANGHAI: China's finance ministry will auction a total of 66.6 billion yuan ($10.74 billion) of three-, five- and seven-year bonds on behalf of eight local governments on July 14 and 18.

The finance ministry will issue 23.4 billion yuan each in three- and five-year bonds, and 19.8 billion yuan in seven-year bonds, according to a statement published on the website for China's major bond issues.