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Business & Finance

China Railway Ministry sells 3-month bills at 5.55pc

SHANGHAI : China's Ministry of Railways auctioned 20 billion yuan ($3.1 billion) of three-month short-term commercial pa
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By Shoaib Ur Rehman
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china-railwaySHANGHAI: China's Ministry of Railways auctioned 20 billion yuan ($3.1 billion) of three-month short-term commercial paper on Monday at a yield of 5.55 percent, traders said.

The funds will be used to build railways, buy locomotives and improve the ministry's liquidity, adding the 90-day paper will carry a coupon rate to be set during bidding in the tender on the inter-bank bond market.

 

Copyright Reuters, 2011

 

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