China's interbank money market transactions drop in May

BEIJING -- China's interbank money market recorded 84.5 trillion yuan ($13 trillion) worth of transactions in May, down 16.53 percent year-on-year, data from the People's Bank of China shows.

The pledged repo turnover dipped 12.63 percent year-on-year to 75 trillion yuan, while the outright repo turnover was 300 billion yuan, down 56.17 percent from the same period last year.

In May, interbank lending transactions declined 37.45 percent year-on-year to 9.2 trillion yuan, the data shows.