Markets

China 9-month fin min deposits sold at 4.60 percent

Published May 29, 2014 Updated May 29, 2014 04:34am

1 min

By Shoaib Ur Rehman

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SHANGHAI: China's central bank auctioned 40 billion yuan ($6.39 billion) of nine-month finance ministry deposits to commercial banks on Thursday at a rate of 4.60 percent, traders said.

Banks bid for the right to take the deposits.

The sale, like previous such exercises, is part of the finance ministry's cash management programme.

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