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Economy

China's central bank injects liquidity into market

September 04, 2020


Abstract : TCM therapy has gained more popularity in Ghana as more and more local patients recovered with the help of Chinese medical professionals in the country.

BEIJING, Sept. 4 (Xinhua) -- China's central bank on Friday continued to pump cash into the banking system via reverse repos to maintain liquidity.

The People's Bank of China injected 100 billion yuan (about 14.63 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 was intended to maintain reasonable and ample liquidity in the banking system, the central bank said.

A total of 100 billion yuan of reverse repos matured Friday.

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

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Keyword: PBOC market liquidity

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