The Export-Import Bank of China sold 2-tranche financial bonds on Thursday, with the yields for the 1-year product and the 10-year product at 2.5815 percent and 3.9169 percent, respectively.
Statistics from China Government Securities Depository Trust & Clearing Co. showed that yields on the 1-year and 10-year fixed interest rate policy bank bonds traded on the domestic interbank market stood at 2.7363 percent and 3.9725 percent respectively.
The two batches of bonds drew strong demand from institutional investors with the bid-to-cover ratio reaching 7.38 and 5.33, respectively. Analysts attributed the rosy auction result to the country's weak economy and the relaxed liquidity condition in the financial market.
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