Xinhua, Beijing :
China’s central bank pumped 150 billion yuan (about 21 billion U.S. dollars) into the financial system Friday.
The People’s Bank of China injected 150 billion yuan into the market through 14-day reverse repos at an interest rate of 2.65 percent.
With no reverse repos maturing Friday, this led to a net injection of 150 billion yuan.
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.
The country will continue to implement a proactive fiscal policy and prudent monetary policy, according to the annual Central Economic Work Conference held last week.
China’s central bank pumped 150 billion yuan (about 21 billion U.S. dollars) into the financial system Friday.
The People’s Bank of China injected 150 billion yuan into the market through 14-day reverse repos at an interest rate of 2.65 percent.
With no reverse repos maturing Friday, this led to a net injection of 150 billion yuan.
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.
The country will continue to implement a proactive fiscal policy and prudent monetary policy, according to the annual Central Economic Work Conference held last week.
