China central bank makes biggest weekly cash injection since Jan 2020

BEIJING – China’s central bank made the biggest weekly cash injection in more than two years this week to maintain stable liquidity conditions towards the month-end.

The People’s Bank of China (PBOC) injected 300 billion yuan ($47.41 billion) worth of seven-day reverse repos into the banking system on Friday, compared with 10 billion yuan of such loans expiring on the same day.

For the week, the PBOC injected 760 billion yuan on a net basis – the biggest weekly cash offering since January 2020.

($1 = 6.3283 Chinese yuan)

(Reporting by Winni Zhou and Andrew Galbraith; Editing by Jacqueline Wong)