China began to issue 33.7 billion yuan (US$4.1 billion) worth of book-entry treasury bonds as of Wednesday.

The seven-year bonds, the fifth batch of the treasury bonds China issues this year, will be available for wholesales on the national inter-bank bond market and securities exchange market and outlets of selected banks during May 25 and 30, according to a news release posted on the website of China's Ministry of Finance.

With face values totaling 30 billion yuan (US$3.65 billion), the bonds, carrying a fixed annual interest rate of 3.37 percent, will be floated, and quoted on the inter-bank bond market and Shanghai and Shenzhen stock exchanges for trading in cash and repurchase starting from June 3.

The bonds will also be available for retailing at outlets of selected major banks, including the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank. 

(Xinhua News Agency May 26, 2005)