The Ministry of Finance started to issue two more batches of certificate saving bonds worth a total of 30 billion yuan (more than 4.15 billion U.S. dollars) on Friday.
One batch of bonds worth up to 15 billion yuan (more than 2.07 billion U.S. dollars) have a maturity of three years and a fixed coupon rate of 2.38 percent, while the other batch of five-year bonds will come with a fixed coupon rate of 2.5 percent and issuance volume up to 15 billion yuan.
The issuance of the two bonds will end on May 19.
These are the third and the fourth batches of bonds issued by the ministry this year.
The bonds are very popular among the public as their interest rates outnumber those of deposits.
"We sold a total of more than 1.2 million yuan of 3-year and 5-year bonds today. The selling site was rather explosive. All the bonds were sold out in barely 10 minutes. Many of them failed to purchase the previous two batches of bonds and they came here quite early today. It is apparent that there will be more people to line up this month than the time the previous two batches were issued," said Wang Xi, head of the Tonglou Branch of Industrial and Commercial Bank of China (ICBC) in Tianjin.
Wang said more young people are also buying the bonds as they pursue stable proceeds.
"Young people have changed their investment philosophy. They prefer safe and long-term financial products. So, many of them stood in the queues to buy treasury bond," she said.
China issues 30 bln yuan worth of saving bonds
