More T-bonds

China’s Ministry of Finance announced on November 20 that it is to float another 28 billion yuan （$4.57 billion） in book-entry Treasury bonds （T-bonds） as part of an issuance effort that began in August.

The new bonds will be priced at 96.15 yuan（$15.78） for each bill with a face value of 100 yuan （$16.42）.

The ministry issued its 18th batch of bookentry T-bonds worth 30 billion yuan （$4.92 billion） in August. A further 28 billion yuan （$4.6 billion） was added to the issuance in October.

The interest rate for the bonds is fixed at 4.08 percent annually. Interest will be paid every half year. The bonds will expire on August 22， 2023.

Banking in New Zealand

The Industrial and Commercial Bank of China（ICBC）， the country’s largest bank， has become the 23rd bank registered to operate in New Zealand， according to an announcement by the Reserve Bank of New Zealand （RBNZ） on November 19.

ICBC New Zealand Ltd. is a fully owned subsidiary of ICBC Ltd.， and they have already reserved the website domain， icbcnz.com.

ICBC New Zealand counts former RBNZ Governor Don Brash among its directors， the BusinessDesk news service reported.

ICBC previously conducted its New Zealand business through its branch in Sydney， Australia.