Metalnewsnet 19 Apr ：

China's Ministry of Finance will auction CNY30 billion ($4.4 billion) worth of six-month state-fund deposits to commercial banks Thursday to improve its return on the funds, the People's Bank of China said Monday.

The state funds will be deposited with banks offering the highest rates at Thursday's auction, which will be carried out by the central bank, the PBOC said.

State funds can be invested in government bonds or deposited with commercial banks for a maximum of one year.

(from Dow Jones)