Finance Ministry Sells 30-Year China Bonds at Yield of 3.96%, Traders Say

China’s finance ministry sold 28 billion yuan ($4.1 billion) in 30-year bonds at an average yield of 3.96 percent, according to traders at BOC International (China) Ltd. and Industrial & Commercial Bank of China Ltd.

The highest winning-bid yield at the sale was 3.98 percent, said the traders at the primary dealers required to bid at the government auctions. The issuance drew bids of 2.13 times the amount on offer, according to the traders.

The average yield at today’s auction was 1 basis point lower than the 3.97 percent median estimate in a Bloomberg News survey of nine finance companies. A basis point is 0.01 percentage point.

To contact the reporter on this story: Belinda Cao in Beijing at lcao4@bloomberg.net

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