What's news

Central bank drains 40b yuan from market

China's central bank drained 40 billion yuan ($5.82 billion) from the market on Thursday. This marks the first day that the People's Bank of China drains liquidity from the market after it injected money into the market for five consecutive days. On Thursday, the central bank conducted 20 billion yuan in seven-day reverse repos, 20 billion yuan in 14-day reverse repos and 10 billion yuan in 28-day reverse repos. A reverse repo is a process by which central banks purchase securities from banks with an agreement to sell them back in the future.

China to become top business travel market