China issues 20-year treasury bonds

China will issue 26 billion yuan (4.22 billion US dollars) in 20-year book-entry treasury bonds, the Ministry of Finance announced Saturday.

It is the ministry's ninth issuance of book-entry treasury bonds this year, according to a ministry statement.

The interest rate for the bonds is fixed at 4.77 percent. Interest will be paid twice each year on April 28 and Oct 28, and the last year's interest and the principal will both be paid upon maturity on April 28, 2034.

The bonds are being sold on the inter-bank bond market until April 30 and will become tradable on May 5, according to the statement.