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Business / Markets

Lower borrowing costs for banks

(China Daily) Updated: 2012-05-04 13:45

Borrowing costs for Chinese banks dropped as the central bank injected cash into the financial system by offering reverse-repurchase agreements.

The People's Bank of China sold 65 billion yuan ($10.3 billion) of seven-day reverse-repo contracts on Thursday at 3.53 percent, according to a statement on its website.

China Daily - Agencies

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