China has commenced issue of CNY33 billion worth of book-entry treasury bonds, having three months maturity period. This is the second batch of issue of such kind of t-bond and carries 1.39% annual interest rate. The Ministry of Finance said that the issue of the t-bonds would be completed by March 20. The ministry said the bonds would be floated for cash and begin trading from March 22 at the national inter-bank bonds markets. The ministry said 39 of its 63 members, selected through public bidding as underwriting institutions, were awarded rights to distribute t-bonds. The Industrial and Commercial Bank of China, Hangzhou City Commercial Bank and Industrial Bank Co. are some of the major underwriters for the t-bond issue.
