China cbank sells 6-mth fin min deposits at 2.50%

SHANGHAI: China's central bank auctioned 50 billion yuan ($7.3 billion) of six-month finance ministry deposits to commercial banks on Wednesday at a rate of 2.50 per cent, traders said.

The central bank auctioned finance ministry deposits with a three-month tenor in October and July at a rate of 3.89 per cent. The central bank conducts such auctions periodically as part of the finance ministry's cash management programme.