s
Global EditionASIA 中文双语Français
Business
Home / Business / Finance

China's central bank injects 150b yuan into market

Xinhua | Updated: 2020-08-14 14:17
Share
Share - WeChat
The People's Bank of China. [Photo/Sipa]

BEIJING -- China's central bank Friday pumped cash into the banking system via reverse repos to maintain proper liquidity.

The People's Bank of China injected 150 billion yuan (about $21.6 billion) into the market through seven-day reverse repos at an interest rate of 2.2 percent, according to a statement on the website of the central bank.

The move was intended to offset the impact of factors such as the issuance of government bonds, the central bank said.

As a total of 10 billion yuan of reverse repos matured on Friday, the central bank injected a net 140 billion yuan into the banking system.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

China pursues a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE