Mumbai, Nov. 7 -- On November 6, China's Ministry of Finance issued US$4 billion in sovereign bonds for the first time, with the three-year bond coupon rate set at 3.625%. This rate is on par with the yield on US Treasuries of the same maturity and marked the first time in history that Chinese and US borrowing rates were similar. The issuance received warm welcome. The total subscription amount was US$118.2 billion, which is 30 times the issuance amount, marking the highest in the history of USD sovereign bond issuances.

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