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imageSHANGHAI: China's finance ministry will auction 50 billion yuan ($8.26 billion) of six-month deposits to commercial banks on Jan. 14, the ministry said on Thursday.

Banks will bid for the right to take the deposits.

The sale, like previous such exercises, is part of the finance ministry's cash management programme. The auction will be conducted by the central bank on behalf of the finance ministry, the ministry said.

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