Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Economy

China's central bank injects 100 bln yuan into market

June 28, 2020


Abstract : China's central bank on Sunday pumped cash into the banking system via reverse repos to maintain liquidity.

BEIJING, June 28 (Xinhua) -- China's central bank on Sunday pumped cash into the banking system via reverse repos to maintain liquidity.

The People's Bank of China injected 100 billion yuan (about 14.17 billion U.S. dollars) into the market through seven-day reverse repos at an interest rate of 2.2 percent, according to a statement on the website of the central bank.

The move is intended to maintain stable liquidity in the banking system, the central bank said.

As 120 billion yuan of reverse repos matured Sunday, the operation led to a net withdrawal of 20 billion yuan from the market.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

China will pursue a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.

The country will use a variety of tools including required reserve ratio reductions, interest rate cuts, and re-lending to enable M2 money supply and aggregate financing to grow at notably higher rates than last year, said the report. Enditem

Scan the QR code and push it to your mobile phone

Keyword: PBOC market liquidity

Reading:

Across China: Foreign businesspeople trained in livestreaming e-commerce in "world's supermarket"

Shenzhen's outbound investment surges

China Unicom sees 4G users rise in May

China adds 316 new PPP projects in January-May

Canton Fair shows China's strength as global manufacturing power amid pandemic: magazine

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial