CHINA
From Times Staff and Wire Reports
Government Bonds to Be Auctioned: The bonds will be sold through an auction process starting next year, and the first sale will be of one-year bonds, the state-run Xinhua news agency reported. Gao Jian, deputy director of the state debt administrative department in China’s Ministry of Finance told Xinhua that China is changing its policy of requiring citizens to buy bonds because the practice does not work in an economy that is becoming more open.
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