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Open market operations pause

China's central bank suspended open market operations on Friday, citing abundant liquidity in the financial system. "As rising fiscal spending near the end of month offsets maturing reverse repos, the liquidity level in the banking system is relatively high," the People's Bank of China said on its website. On Friday, 50 billion yuan ($7.3 billion) of reverse repos matured, meaning that market liquidity dropped by the same amount.

E-commerce seen growing 19%