China's Ministry of Finance (MOF) issued on Wednesday 30 billion yuan worth of 7-year T-bonds at annualized yield of 3.5039 percent.
Statistics from China Government Securities Depository Trust & Clearing Co. showed that yield on the 7-year fixed interest rate T-bonds traded on the domestic interbank market stood at 3.5104 percent.
Market players disclosed that the subscription ratio reached 2.07 times the volume offered. Analysts noted that though the central bank's scale-up of reverse repo offering in Tuesday's open market operations failed to greatly improve the tight liquidity condition in the banking system, the move helped reassure market sentiment to some extent.
The People's Bank of China (PBOC), China's central bank, conducted 120 billion yuan worth of 7-day reverse repos in Tuesday's open market operation, the largest offering of reverse repos since January 2014.
This is the additional issue of the 14th batch of book-entry coupon bearing T-bonds offered by the ministry in 2015, with the value date and circulation date on July 9 and August 26 respectively.