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Local Government Bonds Hard to Sell

04-22 18:33 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-04-22/110151384.html

»The finance ministry is selling bundled bonds from four local governments, totaling 12 billion yuan, at the same interest rate.

»Analysts think MOF intends to use this measure to turn local government bonds into semi-treasury bonds, blurring the line between the various issuers.

»However, buyers remain unenthusiastic, and some view the mandatory bundling and allocation as unfair to buyers.

»Early bonds issued by Jiangsu province were traded at the relatively high interest rate of 1.8 percent.


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