China Debt Sale Fails for First Time in 23 Months on Cash Crunch

China’s Finance Ministry failed to sell all of the debt offered at an auction for the first time in 23 months owing to a cash squeeze, according to two traders at finance companies that participate in the sales. The ministry sold 9.53 billion yuan ($1.55 billion) of 273-day bills, less than the …

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China Debt Sale Fails for First Time in 23 Months on Cash Crunch

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