China to sell 1 bln yuan 3-month bills

SHANGHAI, Dec 15 (Reuters) - China central bank said on Wednesday that it would auction 1 bilion yuan ($150 million) of three-month bills in its open market operation on Thursday, flat from 1 billon yuan of such bills sold last week. A total of 52 billion yuan in central bank bills and repos are due to mature this week. Last week, the People's Bank of China conducted a net injection of 64 billion yuan into the market. The low volume of bills for Thursday shows the People's Bank of China (PBOC) has strong intentions of keeping yields on the bills stable to avoid fuelling expectations of interest rate rises for now. Following is a summary of the volume of the central bank's bill sales and repo operations so far this week (billions of yuan): Newly issued Maturing ___________________________________________________ Bills Tuesday 1 Thursday 1 Repos Tuesday 0 Thursday TBA Bills maturing 32 Repos maturing 20 ___________________________________________________ TOTAL n/a 52 TBA: to be announced (Reporting by Jason Subler; Editing by Jacqueline Wong) ((; +86 21 6104 1713; Reuters messaging: Keywords: CHINA OPENMARKET/ (If you have a query or comment on this story, send an email to COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.