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Treasury bonds, with modest but stable revenues, have become the best choice for many ordinary investors in China, the Economic Daily reported Monday.

During the recent May Day holiday, when the country issued its third-term treasury bonds for 2005, the paper said, long queues could be seen in front of most T-bonds sales centers in Beijing, Shanghai, Hangzhou, Shenyang and other metropolises.

This is not the first time for Chinese citizens to rush for T-bonds this year. On March 1, locals in Beijing queued in a snowy morning to buy T-bonds, which sold out in only ten minutes, the Economic Daily said.

A bank clerk in Beijing attributed people's enthusiasm for T-bonds to the lack of good investment opportunities in China, said the newspaper. The continued downturn of Chinese stock markets together with recent strict measures over real estate speculation have made it difficult for Chinese with large bank savings to invest, said the clerk.

China has issued fewer treasury bonds since 2003. The country reduced the issue of long-term treasury bonds by 10 billion yuan (1.2 billion US dollars) in 2003, and announced another 30 billion yuan (3.61 billion dollars) reduction in treasury bonds in 2004.