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The Chinese Ministry of Finance issued 20 billion yuan of registered treasury bonds to institutional investors through the interbank securities market Thursday.
The bonds will have a 10-year maturity and a floating interest rate, with interest paid annually.
The interest rate for the first year will be 2.77 percent. For the remaining nine years, the interest rates will be decided by that for one-year bank deposits on the interest payment day plus a 0.52 percent benchmark margin.
(People's Daily 08/31/2001)
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