China 1-year fin min bill yield at 3.90pc, high end of f'casts

SHANGHAI: China's Ministry of Finance auctioned 30 billion yuan ($4.7 billion) of one-year bills in the interbank market on Wednesday at an average yield of 3.90 percent, traders said, at the high end of forecasts.

Market forecasts had centred around 3.83 percent and ranged from 3.78 to 3.90 percent.

The auction yield came in above Tuesday's indicative secondary market bid yield of 3.8436 percent for one-year government bills .

Copyright Reuters, 2011