May 4, 2018 / 5:04 AM / 5 months ago

China finmin says to auction 120 bln yuan worth of 3-mth deposits on May 9

SHANGHAI, May 4 (Reuters) - China’s finance ministry said on Friday it will auction 120 billion yuan ($18.91 billion) of three-month deposits to commercial banks on May 9.

The central bank operates the sale on behalf of China’s finance ministry, which runs a cash management programme. Banks will bid for the right to take the deposits. ($1 = 6.3455 Chinese yuan) (Reporting by the Shanghai Newsroom)

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