SHANGHAI: China's Ministry of Finance auctioned 28 billion yuan ($4.56 billion) of three-year bonds in the interbank market on Wednesday at an average yield of 4.00 percent, traders said, the high end of expectations.

Market forecasts had centred around 3.97 percent and ranged from 3.93 to 4.01 percent.

The auction yield came in above Tuesday's benchmark secondary market yield of 3.9760 percent for three-year government bonds.