Seeking to avoid cash squeeze, the People’s Bank of China injected the biggest amount into the country’s financial system via open-market operations this week in nearly three months.
The Chinese central bank sold 240 billion yuan ($37 billion) of seven-day reverse-repurchase deals, making this week’s cash injections to 680 billion yuan ($10 billion).
Huachuang Securities Co. disclosed around 400 billion yuan ($62 billion) in corporate tax deposited with commercial creditors will be moved away from the banking system in April.
The material has been provided by InstaForex Company – www.instaforex.com