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Money-market rate rises the most in two weeks

(China Daily)

09:18, March 14, 2013

China's money-market rate climbed the most in two weeks on speculation the supply of cash will wane as investors borrow money to buy convertible bonds issued by China Minsheng Banking Corp. The Beijing-based lender said it will issue 20 billion yuan ($3.2 billion) of six-year debt on Friday and return capital to unsuccessful investors from March 20, according to a statement to the Shanghai Stock Exchange on Tuesday. The central bank has refrained from adding capital to the financial system by issuing reverse-repurchase contracts since Feb 7. "We are quite cautious about liquidity," said Wang Huane, a senior bond trader at Qilu Bank Co in Jinan, capital of Shandong province.

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Email|Print|Comments(Editor:HuangBeibei、Liang Jun)

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