China issues 600 bln yuan special treasury bonds

时间：2007-08-30 00:52:53

（单词翻译:单击）

Aug. 29 - China began to issue 600 billion yuan (67.79 billion U.S. dollars) of bonds on Wednesday in the first tranche of 1.55 trillion yuan basket of special treasury1 bonds.

 

The China Securities Journal quoted authoritative2 sources as saying that the annual interest rate of the bonds would be around 4.3 percent, basically matching the market rate for long-term debt.

 

The report said the outstanding terms of the bonds would be ten years and 15 years.

 

Market observers held that the interest rate for the 35 billion yuan of central bank bills issued on Tuesday was fairly high at 3.3165 percent, raising the cost for the central bank to call back excessive liquidity3, and this month was a peak period for maturing central bank bills.

 

They said the central bank very likely would replace maturing bills with the newly issued bonds, which would have little impact on market liquidity.

 

The government plans to launch a state forex investment company to make better use of the country's huge foreign exchange reserve. The forex investment company, still in preparation, made its first investment in non-voting shares, valued at three billion U.S. dollars, in the U.S. private equity4 firm, the Blackstone Group.

 

At the end of June, China's top legislature had approved the issuance of 1.55 trillion yuan of special treasury bonds by the Ministry5 of Finance to buy 200 billion U.S. dollars forex reserve to finance the state forex reserve company.

 

A spokesman for the Ministry of Finance said the issuance of the bonds would not directly affect money supply in the market.

 
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1 treasury 7GeyP     
n.宝库；国库，金库；文库
参考例句：
  • The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
  • This book is a treasury of useful information.这本书是有价值的信息宝库。
2 authoritative 6O3yU     
adj.有权威的，可相信的；命令式的；官方的
参考例句：
  • David speaks in an authoritative tone.大卫以命令的口吻说话。
  • Her smile was warm but authoritative.她的笑容很和蔼，同时又透着威严。
3 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
4 equity ji8zp     
n.公正，公平，（无固定利息的）股票
参考例句：
  • They shared the work of the house with equity.他们公平地分担家务。
  • To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。
5 ministry kD5x2     
n.(政府的)部；牧师
参考例句：
  • They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
  • We probed the Air Ministry statements.我们调查了空军部的记录。

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