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China Daily | Updated: 2019-08-14 07:39
Govt and policies
Central bank injects funds into market
The People's Bank of China, the central bank, on Tuesday continued to pump cash into the financial system through open market operations to maintain liquidity in the market. The central bank conducted 60 billion yuan ($8.53 billion) of seven-day reverse repos, a liquidity-injecting process in which it purchases securities from commercial banks through bidding with an agreement to sell them back in the future. The interest rate for the operation remained at 2.55 percent, the central bank said in a statement.
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