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PBOC halts repo sales to boost market liquidity

The central bank refrained from selling repurchase agreements for the first time in four months as banks' hoarding of cash to meet regulatory requirements drove the benchmark money-market rate to a seven-week high. The People's Bank of China's decision to halt the use of repos resulted in a net 12 billion yuan ($1.9 billion) being added to the financial system this week via its open-market operations, according to Bloomberg data.

Think tank wants non-auto firms allowed into EV sector