China's Ministry of Finance (MOF) sold 30.06 billion yuan worth of 10-year T-bonds at an annual yield of 3.5188 percent on Wednesday, which was lower than market expectations. Market players disclosed that the subscription ratio reached 2.50 times the volume offered. Analysts noted that though investors began subscribing for a large batch of initial public offerings (IPOs), the liquidity condition still remained relatively loose, which was favorable to the T-bond offering.
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