China issues five-year treasury bonds

China will issue 29 billion yuan ($4.7 billion) in five-year book-entry treasury bonds, the Ministry of Finance announced Wednesday.

It is the ministry's eighth issuance of book-entry treasury bonds this year, according to a ministry statement.

The interest rate for the bonds is fixed at 4.04 percent. Interest will be paid annually on April 24, and the last year's interest and the principal will both be paid upon maturity on April 24, 2019.

The bonds are being sold on the inter-bank bond market until April 28 and will become tradable on April 30, according to the statement.