China press editorial: Policymakers need to tread carefully to avoid liquidity crunch

China is on holiday today (and Hong Kong, for the Dragon Boat Festival)
So, no USD/CNY fixing. Incidentally, there are revers repos rolling off today, 40bn yuan maturing (there were none on Monday). Also, 30bn yuan mature tomorrow. So we’re likely to see an injection of funds though OMOs from the People’s Bank of China on Wednesday.