China to issue 13.1 bln yuan local bonds, 28.6 bln yuan book-entry T-bonds

BEIJING, May 13 (Xinhua) -- China's Ministry of
Finance (MOF) said Wednesday it would issue 13.1 billion yuan (1.92 billion U.S.
dollars) of three-year local government bonds from May 14 to 18 on behalf of
three provinces at a fixed annual coupon rate of 1.71 percent.

The plan allocates 3.1 billion yuan for Hubei
Province, 9 billion yuan for Sichuan Province and 1 billion yuan for Dalian city
in Liaoning Province.

The three local bonds will begin trading on May 20.

The ministry would also issue a batch of book-entry T-bonds
of 28.6 billion yuan, the eighth of its kind this year.

The one-year, short-term bonds have a fixed annual
coupon interest of 0.89 percent, with the selling period lasting from May14 to
18. Trading begins on May 20.