HONG KONG nike air force 1 just do it australia , Oct. 27 (Xinhua) -- Sale of China's first U.S. dollar-denominated debt in 13 years indicates China will further open up its finance sector, said Chinese Vice Finance Minister Shi Yaobin here on Friday.

Demand for the sovereign notes climbed to 11 times of the offering size on Thursday. The strong demand allowed pricing of the 2 billion U.S. dollars in bonds to go under initial guidance, meaning China could raise funds at lower cost.

But external financing is not the purpose as the offering was small, Shi said.

Choosing Hong Kong as the venue to float the bonds indicates the central government's solid support for Hong Kong in bolstering its role as international financial center, he noted.

It can also create interest-rate benchmarks for the mainland's enterprises to raise funds in global bond markets, according to Shi.

The issuance can also help international investors to better know nike air max plus just do it australia , understand and invest in China, he said.

With strong demand, the five-year bonds were priced to yield 2.196 percent, or just 0.15 percentage point over comparable U.S. Treasury notes. The 10-year bonds were priced to yield 2.687 percent, or 0.25 percentage point above Treasury yields.

Though the bond sale had no rating, the interest rates were equivalent to those with triple-A sovereign rating nike air max 1 just do it australia , he said.

The successful floating of the bond indicates investors' positive prospects for China's economic growth and financial stability, Shi said.

China will unswervingly boost further opening-up of the financial sector and explore to build a long-term mechanism for selling sovereign bonds denominated in foreign currencies, he noted.

The previous such sales were made in October 2004, when the country raised a total of 1.7 billion U.S. dollars by issuing dollar- and euro-denominated bonds with maturities of five and 10 years.

China’s live-streaming sites have become a burgeoning cottage industry, offering money-making opportunities and even stardom to their mostly female hosts and an entertaining new alternative for millions of viewers to online dramas.

Zhang Qige, a 23-year-old woman who plays computer games and chats on her webcam www.nikejustdoitshoesau.com , attracts hundreds of thousands of real-time viewers at once. She has more than 2 million subscribers on the website Douyu TV and an average viewership of 400,000 for each nightly show.

“They like me chatting with them,” explained Zhang, who says she earns more than 1 million yuan a year (US$150,000) from her performances. “They feel like I’m talking to them face to face.”

The proliferation of such shows and sites demonstrate the entrepreneurial drive of young Chinese as well as the financial potential of social media in the country, which has 668 million people online — the world’s largest.

But their popularity also reflects the loneliness of Chinese urban life as well as the growing surplus of single men nike air max just do it australia , blamed in part on the country’s former one-child policy.

Much of the content on various live-streaming sites could be considered seedy, and some goes well beyond the borders of good taste. Many female broadcasters wear revealing costumes, and authorities recently cracked down after live pornographic scenes were broadcast on at least two sites. In one case, 34 people in Anhui Province were arrested for taking part.

The spread of such platforms has drawn close government scrutiny, with the Ministry of Culture saying yesterday that Douyu and other sites have been added to a list of websites found broadcasting pornographic and other objectionable content and will be handed unspecified penalties. The ministry said online live-streaming platforms draw around 200 million users, with major sites running several thousand live-streaming “studios” simultaneously.

These sites derive a small proportion of their revenue through advertising. They survive primarily through a practice invented by Chinese companies: virtual gifting.

Viewers can buy these imaginary gifts such as images of flowers or bottles of beer for their favorite performers nike just do it shoes australia , who receive a portion of the cash, with the site getting a hefty cut. Viewers can also send comments that pop up onscreen, giving them the perception they are interacting with the host. “I think everyone, without exception, likes to watch beautiful girls,” said a 28-year-old single office worker who asked that he be identified only by his surname nike just do it australia , Zhai. He said he spends 500-800 yuan a week purchasing virtual gifts on four or more different sites.

This business model works in China because it builds on the traditional culture of giving red envelopes stuffed with money at weddings and fruit, cigarettes or bottles of booze at Lunar New Year.

“Gifting is a common practice offline, and having that happen online to make it easier to form social relationships seems quite natural,” said Hans Tung, a managing partner at GGV Capital, a venture capital firm.

US players are paying attention Men's Nike Air Max 95 Just Do It White Black Australia , but so far haven’t gotten this model to work. “There are a lot more ways people can make money now online ... that is not as prevalent outside of Asia,” Tung said.

One of the biggest Chinese hosting sites, YY, is listed on the Nasdaq stock exchange and saw its revenues rise 60 percent to 5.9 billion yuan last year, according to unaudited financial results announced in March. It claims more than 120 million active users who spend an average of 48 hours per month on the site. Young Chinese see virtual gifting as a fun way to spend their disposable income, said Dong Mengyuan Men's Nike Air Max 95 Just Do It Orange Australia , head of entertainment content at China Renaissance, an investment bank that focuses on Internet and technology companies.

“They don’t just only pay for their clothes, food and some other basic demands,” she said. “They also want to pay for something like entertainment.”

Many young people are exploiting the trend simply to make some m.