World Economy

China to Auction Bonds

China to Auction BondsChina to Auction Bonds

China will re-open its auction for 26 billion yuan ($3.90 billion) of 30-year bonds on Sept. 23, the Ministry of Finance said on Sunday, Reuters reported. The bonds will be issued from Sept. 23 to Sept. 26 and will start trading on the secondary market on Sept. 28, the ministry said in a statement posted on the website of China’s main bond clearinghouse. China first auctioned the bonds late last month. Meanwhile, plans by the World Bank to sell special drawing right bonds in China are facing market headwinds thanks to expectations of low yields, investors said, although state-owned banks will likely take up any slack in demand.