The People's Bank of China, the central bank, yesterday issued
three-year and one-year central bank bills worth up to 29 billion
yuan (US$3.97 billion) at a yield of 4.56 percent and 3.41 percent
respectively.
The three-year bills were valued at nine billion yuan and the
one-year bills 20 billion yuan. Primary dealers, such as commercial
banks, securities firms, insurance companies and other financial
institutions approved by the central bank, purchased the bills.
A record 1.27 trillion yuan of central bank bills, which had
been issued to commercial banks to curb lending, will mature in the
first quarter, according to government figures.
(Shanghai Daily January 25, 2008)
