The Ministry of Finance will sell 28 billion yuan ($4.4 billion) in 30-year bonds at a yield of 4.12 percent on Aug 1, according to the median estimate of a Bloomberg News survey.

The highest forecast was 4.13 percent and the lowest 4.08 percent, the survey of five finance companies showed. The estimate compared with the 4.12 percent yield on similar maturity notes in the secondary market seen on Monday, according to data compiled by Chinabond.

Investors will bid on the yield at the auction. The issuer will set the security's coupon by taking the highest winning yield.

Agencies - China Daily