PBOC drains 20b yuan from money mar­ket

China Daily (Hong Kong) - - BUSINESS -

The Peo­ple’s Bank of China drained 20 bil­lion yuan ($3 bil­lion) from the fi­nan­cial sys­tem through open mar­ket op­er­a­tions on Fri­day, with the vol­ume of ma­tur­ing se­cu­ri­ties ex­ceed­ing new in­jec­tions. The cen­tral bank pumped 120 bil­lion yuan through re­verse re­pos, with 140 bil­lion yuan of con­tracts ma­tur­ing, lead­ing to a net with­drawal of 20 bil­lion yuan. The op­er­a­tions in­cluded 90 bil­lion yuan of sev­en­day re­verse repo priced to yield 2.45 per­cent, and 30 bil­lion yuan of 14-day con­tracts with a yield of 2.6 per­cent. Fri­day marked the sec­ond con­sec­u­tive day of liq­uid­ity drain in the money mar­ket. year as the two sides strength­ened co­op­er­a­tion in a wide range of ar­eas, of­fi­cial data showed. The data re­versed the neg­a­tive growth trend since 2015, ac­cord­ing to Gao Feng, spokesper­son with the Min­istry of Com­merce. In the Jan­uary-June pe­riod, Chi­nese im­ports from Africa, in­clud­ing min­er­als, agri­cul­tural prod­ucts and fruits, amounted to $38.4 bil­lion, jump­ing 46 per­cent from the same pe­riod last year, while ex­ports gained 3 per­cent to $47 bil­lion.

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