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The People's Bank of China (PBOC) conducted a net drain of 73 billion yuan ($11.52 billion) last week. PBOC will also mop up 26 billion yuan by selling one-year bills at about 10 a.m. (0200 GMT) on Tuesday, down from 38 billion yuan ($6.00 billion) of such bills sold last week. The planned one-year bill issuance means that the central bank is on pace to conduct a net drain of at least 9 billion from the banking system this week.