SHANGHAI: China's Ministry of Finance auctioned 30 billion yuan ($4.83 billion) of seven-year bonds in the interbank market on Wednesday at an average yield of 3.4838 percent, traders said, slightly below expectations.

Market forecasts had centred around 3.50 percent and ranged from 3.47 to 3.57 percent.

The auction yield came in below Tuesday's benchmark secondary market yield of 3.55 percent for seven-year government bonds.

Copyright Reuters, 2015