China will issue an additional 50 billion yuan of long-term treasury bonds Tuesday to increase fixed asset investment, the Ministry of Finance announced in Beijing Monday.
The T-bonds will be issued only to the four state-funded commercial banks, namely the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China and the Construction Bank of China.
The T-bonds have floating interest rates and a maturity term of 10 years. When the period of issuance expires, the T-bonds can be traded at the treasury market.
The additional issuance of T-bonds will facilitate China's economic growth in the fourth quarter and pave the way for a good start next year. It benefits the readjustment of China's industrial structures and improvement of the investment environment in central and western parts of China, according to the Ministry of Finance.
(Xinhua 10/30/2000)
