New batch of treasury bonds sells quickly

China's Finance Ministry has issued this year's first batch of treasury bonds, worth 30 billion yuan.

The bonds are sold mainly to individual investors and many banks exhausted their quotas within hours after sales began Thursday morning.

Experts say depositors find it better to invest savings in bonds after China's central bank last year reduced interest rates five times.

Treasury bonds have two different maturation levels. Three-year bonds yield a four-percent return while five-year bonds pay 4.42 percent.

Treasury bonds are considered the most secure investments because it's virtually unlikely that the government would default on them.