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China Repo Jumps Most in 15 Months on Holiday Cash Demand, Taxes

China’s benchmark money-market rate rose the most in 15 months as demand for cash increased ahead of a public holiday next week and as corporate taxes come due.

Companies need to pay about 400 billion yuan ($64.7 billion) to 500 billion yuan in total annual taxes before the end of this month, Chen Qi, a strategist with UBS Securities Co. in Shanghai, said this week. Domestic financial markets are closed for three days from April 29.