China to issue 30 billion yuan of book-entry discount T-bonds

BEIJING - China's Ministry of Finance said Thursday that it will auction 30 billion yuan ($4.21 billion) worth of book-entry discount treasury bonds on Friday.

With a term of 91 days, the bonds will be sold at a discounted price and mature at par value. The price will be determined through a competitive tender on Friday, according to a statement released by the ministry.

The bonds will become tradable on the securities market on Aug 7, the ministry said.

The value of the auction was equivalent to the previous sale on July 26.