China’s New E-savings Bond
According to the Ministry of Finance, the first electronic savings bonds of the year, worth about 30 billion Yuan, will be issued on May 16.
In 1994, China issued another variety of savings bond—the bearer treasury bond that has become a popular investment tool for the public and important channel for the government to raise funds for major construction projects. By comparison, the e-savings bond is more convenient for investors, such as interest will be paid by direct deposit into the investor’s account. The bond will be sold at branches of Industrial and Commercial Bank of China and only to individual investors.
In addition, further e-savings products will be introduced.
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