Monday, 16 March 2015 13:28
SHANGHAI: China’s finance ministry will auction 30 billion yuan ($ 4.79 billion) of nine-month deposits to commercial banks on March 19, the ministry said on its website on Monday.
Banks will bid for the right to take the deposits. The sale, like previous such exercises, is part of the finance ministry’s cash management programme.
The auction will be conducted by the central bank on behalf of the finance ministry, the ministry said in a statement.
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Copyright Reuters, 2015
