China's Ministry of Finance plans a competitive auction of a 7-year fixed-rate
book-entry coupon bond (12th tranche) with nominal amount CNY150bn; additional
bids will be accepted from primary dealers. The coupon rate will be set by
competitive tender. The bond will accrue interest from June 15, 2026, pay annual
coupons each June 15 (holidays deferred), and repay principal and the final
coupon on June 15, 2033.