+
On February 23, the Ministry of
Finance (MOF) and the central bank carried out the first bidding among
commercial banks for the management business of treasury deposit.
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The final bid rate was set at 6.80%, 80
basis point higher than the previous bidding. The total value is CNY 30 billion,
and the term is six months.
The bid rate has been increasing as commercial banks trying to attract
government deposits.
The quest for liquidity is also evidenced by a higher
short tem interbank interest rates.
Other News Headlines:
n High Interest Rate in the First Round of Treasury
Deposit Bidding
n Special Financial Bonds for Small Micro Enterprise
Attract Less Interest than Expected
n China’s Urban Social Safety Net Will be Expanded in
2012
n eLong: Net Operating Revenue Increased 27% YoY in Q4
2011
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