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China Daily | Updated: 2011-08-02 08:10
Local bonds to be auctioned
The Ministry of Finance auctioned 22.7 billion yuan of three-year bonds with a yield of 4.07 percent on behalf of seven regional governments, traders said on Monday.
The sale of the five-year tranche of 22 billion yuan bonds will be conducted on Aug 8. The ministry has said it plans to issue a total of 200 billion yuan in bonds on behalf of local governments this year. Provincial and city governments are currently not allowed to raise funds in the debt market directly.
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