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PBOC skips open market operations

The People's Bank of China, the nation's central bank, skipped open market operations for the 29th consecutive trading day on Wednesday, the longest stretch since early 2016, citing sufficient liquidity in the banking system. No reverse repos will mature on Wednesday. A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Refinery building starts in Jieyang