According to a Bloomberg report, the state of China had sold bonds at its highest yield after 50 years. The increase, the news agency noted, was the Chinese state's entry to increasing borrowing costs as its leaders had done an overhaul of a state policy.

On November 15, China's finance ministry sold CNY20 billion or USD3.3 billion in bonds due November 2063 at a 5.31% yield. The yield percentage was the highest recorded so far since sales of the bonds began in 2009. The 4.24% yield rate from a previous auction and Bloomberg News' 5.05% median yield paled in comparison to the rate yielded by the government bonds. The sale of the state bonds attracted offers that were 1.51 times more than the amount offered however, which was significantly lower than the previous sale in May, which picked up 2.13 times than its offer.

Shanghai-based Evergrowing Bank Co analyst Cheng Qingsheng said, "We should probably adapt to a new era as the old times of cheap money are behind us. (In recent weeks), a lot of sovereign and financial bonds were issued, and the PBOC drained money."

Bloomberg said the Chinese state bank, the People's Bank of China, had scrapped a bottom limit on lending rates in July. Deutsche Bank AG, on the other hand in September projected that the cap on saving rates will be removed by 2015. Such actions, the news agency noted, will incite competition in investors to make deposits among the mainland's over 3,700 banks. A communique from the Third Plenum also said forces in the market will be decisive regarding allocation of resources. The Third Plenum is a four-day economic planning meeting attended by China's top leaders. Chinese President Xi Jinping was reportedly pushing to unwind economic policies of the Communist Party fast.

According to the decision during the Third Plenum, mainland China will be accelerating the freeing-up of interest rates and convertibility of the yuan. China also intended to improve its treasury yield curves and allow qualified private investors to establish small to medium-sized banks, the decision read.