Chinese government issues 31.9 billion yuan (US$3.98 billion) worth of book-entry treasury bonds on Monday, the 10th batch issued this year, said the Ministry of Finance.

With a maturity term of three years and an annual interest rate of 2.34 percent, the T-bonds would be floated on the capital market on July 26, the ministry said in a statement posted on its official website.

Interest would be calculated from July 17, said the statement.

The bonds will be available from the retail outlets of 31 underwriting institutions, which were awarded the selling rights at a public auction on July 14.

The underwriters include the Industrial and Commercial Bank of China, the Agricultural Bank of China, and the Bank of Communications.

(Xinhua News Agency July 17, 2006)