China c.bank to sell 11 bln yuan 1-year bills

SHANGHAI, Nov 23 - China's central bank said on Monday that it would auction 11 billion yuan of one-year bills in its regular open market operations on Tuesday, down from 18 billion yuan of such bills sold last week.

A total of 125 billion yuan in central bank bills and repos will mature this week.

The People's Bank of China conducted a net drain of 93 billion yuan from the market last week, having drained a combined net 663 billion yuan over the previous six weeks as it stepped up a fight against excessive liquidity in the Chinese system, partly propelled by renewed inflows of speculative funds into China. ((jianxin.lu@thomsonreuters.com; +86 21 6104 1792; Reuters Messaging: jianxin.lu.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))