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imageSHANGHAI: China's Ministry of Finance auctioned 24 billion yuan ($3.97 billion) of 10-year bonds in the interbank market on Wednesday at a lower than expected average yield of 4.4483 percent, traders said.

Market forecasts had centred around 4.51 percent and ranged from 4.47 to 4.55 percent.

The auction yield came in below Tuesday's indicative secondary market mid yield of 4.5875 percent for 10-year government bonds.

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