China to slow other government bonds sales to make room for special treasury bonds

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Chinese authority said it will slow issuance of other government bonds to make room for the 1 trillion yuan worth of special treasury bonds designed to help the economy recover from the impacts of the coronavirus outbreak.

On Wednesday, the Ministry of Finance auctioned 500 billion yuan five-year special treasury bonds at a coupon of 2.41 per cent. It also issued 50 billion yuan seven-year special treasury bonds at a coupon of 2.71 per cent. The two tranches of bonds were oversubscribed by 2.5 times and 2.76 times, respectively, according to . . .

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