Regulations For Management Of Central Government Bonds Article 6

Where the Bonds are distributed through bidding, the bidders shall tender their bids for purchasing the Bonds; where the Bonds are fully distributed pursuant to their par value, the distribution shall be made pursuant to the amount set forth in the Bonds.The bidding referred to in the preceding paragraph shall be classified into competitive bidding and non-competitive bidding. The competitive bidding is conducted through price or interest rate competition, whereas the non-competitive bidding is conducted in accordance with the weighted average price or interest rate quoted by the successful bidders.
中文原文 中央公債經理辦法第6條
本公債採標售方式發行時,由投標人出價競購;照面額十足發行時,依票面所載金額發售。
前項標售分為競標與非競標。
競標依投標之價格或利率,以競價方式發售;非競標依競標時得標之加權平均價格或利率發售。

English translation for reference only; the Chinese text prevails. Not legal advice.