China will issue 50 billion yuan ($6.2 billion) in treasury bonds from Saturday, the China Securities Journal said on Monday, part of this year's routine issues to fund public projects and plug a budget deficit.
The non-tradable bonds would include a three-year tranche worth 35 billion yuan with annual coupon of 3.24 percent and a five-year tranche worth 15 billion yuan with annual coupon of 3.6 percent, the newspaper said, citing the Finance Ministry. The issue would close on November 31, the newspaper said.
Beijing plans to issue a total of 692.3 billion yuan in T-bonds this year, almost the same as last year.
China's T-bond issuance has hit record highs over past years as Beijing strives to finance massive infrastructure projects and help laid-off workers and hard-pressed farmers. The government aims to reduce its budget deficit to 2 percent of gross national product this year, from nearly 2.5 percent in 2004.