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China cancels bond issue worth 40 billion yuan

07-06-2012 18:36 BJT

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China’s Ministry of Finance has announced the cancellation of a bond issue worth up to 40 billion yuan. This follows surprise rate cuts amid the economic downturn.

The ministry said it had decided not to release two batches of electronic savings bonds - sheduled to be the seventh and eighth of their kind this year. They were to be issued from July 10th.

The country’s central bank announced late on Thursday that it would reduce the benchmark interest rate for one-year deposits by 25 basis points and that of one-year lending by 31 basis points.

 

Editor:Zheng Limin |Source: CNTV.CN

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