China will float a batch of five-year book-entry treasury bonds with a total face value of 28 billion yuan (4.2 billion U.S. dollars) this week, the Ministry of Finance announced Wednesday.

The five-day sale period will start on Oct. 21, and the bonds become tradable on the exchange markets from Oct. 27, the ministry said in a statement on its website.

The bonds have a fixed interest rate of 2.91 percent, with interest to be paid annually, according to the statement. It will be the 33rd batch of its kind launched by the ministry this year.

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