CDB to issue two bonds raising no more than $ 1.6b

China Development Bank ( CDB) is scheduled to issue a seven- year bond of no more than 4 billion yuan, and issue a five- year bond that will raise no more than 7 billion yuan through the issue system of the People’s Bank of China ( PBC), the country’s central bank, according to a statement on CDB’s website on Monday.

CDB announced upcoming tenders for two bond issuances on Thursday that will raise no more than 11 billion yuan ($ 1.6 billion).

The interest of the bonds is designed to be fixed and paid annually, the statement said.

The Ministry of Finance also plans to issue three- year and five- year electronic government bonds on Monday, according to a statement on the ministry’s website on March 31.

This will be the second batch of government bonds issued this year. The issuance will raise no more than 46 billion yuan, according to the statement.

In 2016, China issued a total of 36.1 trillion yuan in a variety of bonds, up 54.2 percent yearon- year, according to data the PBC released in January. The government issued 2.9 trillion yuan in bonds in 2016.

The government will disclose details on a bond trading link between the Chinese mainland and Hong Kong as soon as July, Hong Kong news outlet hkej. com reported Monday, citing market sources.

According to the source, foreign investors can buy most bonds on the Chinese mainland through an over- the- counter trading platform or through the Hong Kong Stock Exchange, the report said.