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China Development Bank to issue 40B yuan of benchmark bonds

China Development Bank will issue 40 billion yuan of benchmark bonds.

The policy bank said Dec. 19 that the 20-year bonds will carry an annual interest rate of 3.80%.

The bonds will be issued Jan. 8, 2018, and listed on China's interbank bond market on Jan. 10, 2018.

As of Dec. 19, US$1 was equivalent to 6.60 Chinese yuan.