display card china to sell local gov't bonds next week

display card china to sell local gov't bonds next week display card china will start selling two batches of local government bonds next week, the first local government bonds to be sold for 2010 out of an earmarked total of 200-billion-yuan (29.3 billion u.s dollars).

china's ministry of finance (mof) said in a statement friday that it will, on behalf of nine provinces and municipalities, sell a total of 43.8 billion yuan of local government bonds next week, including 28.6 billion yuan of 3-year bonds and 15.2 billion yuan of 5-year bonds.

the nine provinces and municipalities are jiangxi, hubei, hunan, guangxi, chongqing, gansu, qinghai, xinjiang and xiamen city.

according to the statement, the 28.6 billion yuan of 3-year bonds will have a fixed annual interest rate of 2.77 percent, and the 15.2 billion yuan of 5-year bonds have a fixed annual interest rate of 2.9 percent.

the stated interest rate for the 3-year and 5-year local government bonds was higher than that of national treasury bonds: 2.41 percent and 2.62 percent respectively, on june 13.