A Monday mess for Wall Street

He acknowledged that this year's growth outcome might also be wide of the mark, but said the target had been set to signal the importance of increasing efficiency, saving energy, cutting pollution and avoiding the blind pursuit of growth.

On the money market, buying of central bank bills was focused on maturities below one year with the 90-day yield, while the one-year bill yield rose to 2.8070 percent from 2.8050 percent, after falling for a week.

"Traders are reluctant to buy longer-term bills because of rising inflation worries," said a trader at a European Bank.

Central bank governor Zhou said on Monday ahead of the parliament session that China's consumer inflation rate was a little high.

"Official comments on inflation have given little, if any, boost to money market confidence," said economist Wang Haoyu at First Capital Securities in Shenzhen.

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