China floats 30b yuan in T-bonds

BEIJING - The Ministry of Finance will float 30 billion yuan ($4.76 billion) in one year book-entry treasury bonds on Thursday.

The bonds, the second of their kind issued this year, carry a fixed annual interest rate of 2.81 percent, the ministry said in a statement on Wednesday.

Interest on the bonds will be paid annually, while the principal will be returned upon maturity on Jan 17, 2014, according to the statement.

The bonds will be sold from Jan 17 to 21 and become tradable on exchange markets starting on Jan 23, it said.