China issues 5 billion euros of sovereign bonds in Luxembourg

China's Ministry of Finance announced on Friday that it successfully issued euro-denominated sovereign bonds worth 5 billion euros (about 5.7 billion U.S. dollars) in Luxembourg on Thursday.

Five-year bonds with a yield of 2.768 percent were sold for 2.5 billion euros, eight-year bonds with a yield of 2.966 percent raised 1.5 billion euros, and 12-year bonds with a yield of 3.212 percent netted 1 billion euros, the ministry said in a statement on its website.

The bonds were warmly received by the market with international investors subscribing enthusiastically, according to the statement, which said that total investor subscriptions reached 24.8 billion euros, nearly 5 times the issuance amount.

China issued euro-denominated sovereign bonds in Luxembourg for the first time in November 2025.

China's major steelmakers have showed stronger production capabilities in August, thanks to stabilized key raw material prices, an industry expert said on Tuesday.

Fu Jing, director of the Metallurgical Industry Information Center, made the remarks on the latest data of steel production in August during an interview with China Central Television (CCTV) in Beijing. According to the latest data released by the China Iron and Steel Association (CISA), major surveyed steel enterprises produced an average of 1.973 million tonnes of crude steel per day in the first 10 days of August, up 5.8 percent from the previous period.

The daily production of pig iron also experienced a synchronized upward trend, said the CISA.

"Due to high temperatures and rainfalls in summer, downstream demand for construction-related steel has remained relatively weak. Manufacturing steel demand has become more uneven across sectors. However, prices of raw materials, such as iron ore and coke, have structurally stabilized this month. So, the willingness of our steel production enterprises to produce has rebounded," said Fu.

The recovery was also supported by blast furnaces returning to active production after maintenance, directly driving up output of both crude steel and pig iron month on month, she added.