Member ID:
Stay logged in for 30 days
Forget Your Password?

login CCFGroup App

Economy | Time: Feb 3 2021 3:47PM
China's central bank conducts 100 bln yuan of reverse repos Wednesday
Text size
BEIJING, Feb. 3 (Xinhua) -- China's central bank on Wednesday conducted 100 billion yuan (about 15.46 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system.

The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a statement on the website of the People's Bank of China.

With 180 billion yuan of reverse repos maturing on the same day, the move led to a net liquidity withdrawal of 80 billion yuan into 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's central bank has pledged to make its prudent monetary policy more targeted and flexible to adapt better to the needs of high-quality development and put more focus on the efficiency of financial services to support the real economy.
Related Articles
Latest on the novel coronavirus outbreak (Mar 3, 2021)
Chinese paper manufacturing company to invest 1.33 bln USD in
China's weekly export container shipping index dips
China remains world's top manufacturing hub for 11 consecutive
Latest on the novel coronavirus outbreak (Mar 2, 2021)
China's economy grew 2.3% in 2020, says NBS
China's non-manufacturing PMI falls in February
China's value-added industrial output reaches 31.31 trillion yuan
Latest on the novel coronavirus outbreak (Mar 1, 2021)
China's overall tax on imported goods hits record low
Why did demand for fibers soar intensively in Oct?
PTA market operation and outlook