China will let some local governments repay their bonds themselves this year in an expansion of a municipal debt trial, as it moves toward a more transparent financing system for urbanization.
China’s overnight money-market rate jumped the most in three months as this year’s fourth increase in lenders’ reserve-requirement ratios took effect today, draining cash from the financial system.
China’s one-year interest-rate swaps completed their first weekly gain in four on speculation signs of an improving economy will delay any monetary easing.
China’s 10-year debt sale drew the second-highest bids of the year on speculation slowing economic growth is giving investors more confidence to put money into longer-term bonds.
China’s finance ministry failed to draw enough demand at a bill sale for the first time since June, reflecting a shortage of cash at banks after policy makers raised their reserve requirements twice this month.
China’s central bank sold bills at a lower yield for the first time in 15 months, as a crackdown on property lending left the nation’s banks with surplus cash.
China’s benchmark money-market rate fell for a fourth day on speculation the central bank will increase cash injections into the financial system.
"The recovery in money supply and loans will help the economy to stabilize."
- Jiang Chao on Jun 12, 2014