China to float 30 billion yuan in 7-year T-bonds

BEIJING - The Ministry of Finance (MOF) announced on Wednesday that it will issue 30 billion yuan ($4.85 billion) in 7-year book-entry treasury bonds.

It is the ministry's 15th issuance of such bonds this year, according to a MOF statement.

The bonds will be sold from July 11 to 15 and become tradable on securities markets on July 17.

The interest rate for the bonds is fixed at 3.46 percent.

Interest and the principal sum will be paid upon maturity on July 11, 2020, the ministry said.