China will float US$4.8 billion in government treasury bonds next month to raise funds for national development projects. The Ministry of Finance yesterday said the three-year certificate bonds would carry an annual interest rate of 9.18 per cent and could be traded after issue. The May issue will be the third this year, following China's largest-ever bond flotation earlier this month, worth about $14.8 billion. Ministry officials said certificate bonds were very popular among individual investors because of their ease of conversion and purchase. The ministry said it would meet surging demand by issuing nearly $30 billion in T-bonds this year.