BEIJING — China's interbank money market saw 69.2 trillion yuan ($9.89 trillion) in transactions in January, down 22.85 percent year-on-year, data from the People's Bank of China showed.

The pledged repo turnover dropped by 21.07 percent to 58.7 trillion yuan, while the outright repo turnover declined 39.63 percent to 500 billion yuan.

Interbank borrowing turnover decreased 30.99 percent from a year ago to 10 trillion yuan last month, according to the data.