The People's Bank of China (PBC), the central bank, on Tuesday issued 95 billion yuan (about 13.34 billion U.S. dollars) worth of central bank bills while conducting 69 billion yuan in repurchase agreements (repo).
The one-year bills have a yield of 4.058 percent, while the 28-day repo has a yield of 3.2 percent.
The move followed the PBC's issue of 115 billion yuan worth of bills and a 91 billion yuan repo on Feb. 28 and 38 billion yuan worth of bills and a 36 billion yuan repo on Feb. 26.
The bank issued some 433 billion yuan worth of bills and conducted 886 billion yuan in repo agreements in January to curb liquidity and tighten monetary policy.
(Xinhua News Agency March 5, 2008)
