Market forecasts had centred around 4.81 percent and ranged from 4.76 to 4.87 percent.

CDB also auctioned 20 billion yuan of five-year fixed-rate bonds in the interbank market at a yield of 3.99 percent, at the low end of market forecasts.

Market forecasts had centred around 4.02 percent and ranged from 3.99 to 4.08 percent.