CHINA Power Investment Corp, the nation's fifth-largest power producer, issued 3.5 billion yuan (US$459 million) of one-year bonds to raise funds for expansion, the government said yesterday.

The company plans to build a nuclear plant costing 50 billion yuan in northern China, according to its chief engineer. China Everbright Bank Ltd is arranging the sale, the commission said. China Power Investment is parent of Hong Kong-listed China Power International Development Ltd.