China’s PBC injects liquidity into banking system

The People’s Bank of China (PBC) injected on Sunday 2 billion yuan ($281.47 million) through a seven-day reverse repos at an interest rate of 1.8 per cent, as reported by Xinhua.

This action is intended to ensure sufficient liquidity in the Chinese banking system by buying securities from commercial banks with an agreement to sell them back later, as per the statement.

(1 United States dollar = 7.25 Chinese yuan)