Central Bank 1-Yr Bill Yields Keep Rising

By staff reporter Zhang Man

(.com.cn) The People's Bank of China issued 18 billion yuan worth of one-year bills on Aug.4, with the yield rising 4.13 basis points from the previous issue to 1.7397 percent, according to a statement posted on the central bank's Web site the same day. 

The central bank is moving to drain liquidity out of concern that record first-half lending by commercial banks is likely to lead to rising inflation in the fourth quarter.