China central bank injects 100 billion yuan via reverse repos

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FILE PHOTO: Man wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing

SHANGHAI – China’s central bank increased its short-term fund injection on Wednesday by offering 100 billion yuan ($15.67 billion) through seven-day reverse repos into the banking system.

The People’s Bank of China (PBOC) attributed the move to countering factors including tax payments and government bond issuance in order to keep banking system liquidity reasonably ample, it said in an online statement.

With 10 billion yuan worth of reverse repos maturing on Wednesday, the central bank injected 90 billion yuan on a net basis on the day.

($1 = 6.3822 Chinese yuan )

(Reporting by Winni Zhou and Andrew Galbraith; Editing by Christopher Cushing)

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