China finance ministry to auction 50 bln yuan 6-mth deposits

SHANGHAI, April 10 Wed Apr 9, 2014 9:33pm EDT

SHANGHAI, April 10 (Reuters) - China's finance ministry will auction 50 billion yuan ($8.06 billion) of 6-month deposits to commercial banks on April 15, the ministry said on Thursday.

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 published on its website.

For stories on Chinese debt issues, click on. ($1 = 6.2005 Chinese Yuan) (Reporting by Pete Sweeney and Chen Yixin; Editing by Paul Tait)