The Chinese Ministry of Finance (MOF) opened public bidding on Monday for a float of 30 billion yuan (3.86 billion U.S. dollars) of registered treasury bonds, the first batch issued this year.

The seven-year T-bonds, which have an annual coupon rate of 2.93 percent and a fixed interest rate, will be sold via the national interbank bond market, the stock exchange market and through commercial banks.

The banks include the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China and China Construction Bank.

The bonds will be distributed from Feb. 6 to Feb. 9.

The MOF said that interest will be calculated from Feb. 6.

The bonds will be quoted for cash and repurchase trading on the national interbank bond market and the stock exchange market beginning Feb. 15.