14-06-2013, 08:02 PM
China debt sale falls short for first time in nearly two years
BEIJING - China’s Finance Ministry failed on Friday to sell all of the debt offered at an auction for the first time in 23 months owing to a cash squeeze that threatens to exacerbate a slowdown in the world’s second-largest economy, Bloomberg News reported.
The ministry sold 9.53 billion yuan (S$1.9 billion) of 273- day bills, less than the 15 billion yuan target, according to Chinabond, the nation’s biggest bond-clearing house. Agricultural Development Bank of China raised 11.51 billion yuan in a sale of six-month bills last week, less than its 20 billion yuan goal.
http://www.todayonline.com/business/chin...-two-years
BEIJING - China’s Finance Ministry failed on Friday to sell all of the debt offered at an auction for the first time in 23 months owing to a cash squeeze that threatens to exacerbate a slowdown in the world’s second-largest economy, Bloomberg News reported.
The ministry sold 9.53 billion yuan (S$1.9 billion) of 273- day bills, less than the 15 billion yuan target, according to Chinabond, the nation’s biggest bond-clearing house. Agricultural Development Bank of China raised 11.51 billion yuan in a sale of six-month bills last week, less than its 20 billion yuan goal.
http://www.todayonline.com/business/chin...-two-years