Shanghai Daily news
 
The second batch of Shanghai World Expo bonds started trading on the Shanghai Stock Exchange yesterday.

A total of 12.15 million yuan in 10-year bonds and 12.23 million yuan in 15-year bonds began trading on the local bourse as part of the 4 billion yuan securities sold last month to fund major construction of the Shanghai 2010 World Expo.

The latest batch of the Expo bonds was divided into two categories: 2 billion yuan of 10-year securities carrying a fixed annual interest rate of 4.05 percent and 2 billion yuan of 15-year bonds with a fixed 4.15 percent annual rate.

Besides the fraction traded on the Shanghai exchange, a majority of the bonds will be traded on the country's inter-bank bond market, which is open only to institutional investors.

Since the National Reform and Development Commission, China's top planning body, approved the organizers of the World Expo to sell 8 billion yuan in bonds for its major construction, the first batch of 1.5 billion yuan was sold from December 28, 2005 to January 4, 2006, which was listed on the Shanghai Market on January 18.

World Expo 2010 Shanghai is expected to cost 30 billion yuan, among which 18 billion is estimated to be spent in the construction of the pavilions and activity centers.