国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

China made a spectacular return to the international bond markets on Wednesday with a combination $1.5bn dollar and euro-denominated issue at prices very close to those achieved by western government agencies.

The strength of the country's foreign currency reserves means that China has no need for the extra funding, but the response to the issue demonstrates investors' appetite for Chinese debt. The issue of a "benchmark" government bond will also make it easier for Chinese companies to tap the global bond markets.

The issue came shortly after Moody's Investors Service, one of the top three rating agencies, boosted China's sovereign rating one notch from A3 to A2.

The 10-year $1bn dollar portion was offered at 53 basis points over US treasuries and the five-year E400m euro tranche at seven basis points above Euribor, the rate at which European banks lend to each other. The market had expected yields to be two and three basis points higher respectively.

The spread is the lowest-ever for an Asian issuer apart from Japan, with the dollar tranche priced roughly at the same level as that of US agencies, which have an implicit government guarantee. Fannie Mae and Freddie Mac, the two federal agencies that fund US mortgages, were trading yesterday at 48 basis points and 53.25 basis points over US Treasuries.

China last tapped the international bond market in May 2001 at a time when relations between the country and the West were extremely tense.

Since then the Chinese economy has grown rapidly, opening up to international trade, while political tensions have eased.

Close

Today's Top News		Top Business News
+Building dreams in metropolis ( 2003-10-23) +Grain prices surge - first time in six years ( 2003-10-22) +Alerts issued on overheated sectors ( 2003-10-22) +Joint naval operation held off east coast ( 2003-10-22) +Communal elections sprout up in cities ( 2003-10-23)		+GE expects $3 billion in China sales ( 2003-10-23) +Beijing bond issue dazzles market ( 2003-10-23) +FedEx unpackaging on globalization ( 2003-10-23) +Shipper's earnings rise 84% ( 2003-10-23) +Property sector posts decrease ( 2003-10-23)