Beijing: China’s central bank conducted 60 billion yuan ($8.7bn) of open-market operations yesterday, after injecting a record amount of funds last week and offering liquidity support to some lenders.
The People's Bank of China (PBOC) offered 30 billion yuan of 14-day reverse-repurchase agreements and 30 billion yuan of 28-day contracts. The Bank pumped in a net 1.13 trillion yuan last week. Demand for money jumps before the Lunar New Year holidays, also known as the Spring Festival, as families prepare celebrate. The holiday runs from January 27 through February 2 this year. The authority said Friday that it provided a 28-day temporary liquidity facility to some major banks.
