The Ministry of Finance (MOF) said Friday that it will issue 20 billion yuan ($3.28 billion) in 50-year book-entry treasury bonds.

The annual interest rate for the bonds is fixed at 5.31 percent, according to a statement posted on the MOF website.

Interest will be paid every half year on May 18 and November 18 annually, while the last interest and the principal will both be paid upon maturity on November 18, 2063.

The bonds will be sold from November 18 to 20 and become tradable on exchange markets starting on November 22, according to the statement.