China's Central Bank to Issue 1-Year Bank Bills

The People's Bank of China, China's central bank, said on Tuesday it will issue 55 billion yuan ($8 billion) of 1-year bank bills, more than 10-fold increase compared with 5 billion bills in last week.

The increase, said analysts, signaled the central bank's confidence on the market funds. The bank's move to tighten liquidity is in analysts' expectation, as the country's third-largest lender AgBank successfully launched the world's largest IPO.