China's central bank to issue US$5b in bills

China's central bank will issue up to 40 billion yuan ($4.96 billion) in one-year bills in open market operations on Thursday, down from 45 billion yuan a week earlier, it said on Wednesday 4 January.

Yields on the bills will be decided by a public tender on Thursday, the People's Bank of China said in a statement on its Web site (www.pbc.gov.cn), detailing its planned issue.

The central bank typically issues one-year bills each Tuesday and three-month bills each Thursday. Bills of other matu