PBoC goes back to open market operations
Official figures show sharp drop in new loans extended by Chinese banks in July
The People’s Bank of China injected cash into the country’s financial markets through open market operations for the fifth day in a row today (August 16).
The PBoC resumed its open market operations after halting them for more than two weeks from late July. The liquidity boost came after the PBoC reported that new loans fell in July August 12.
The PBoC said it conducted a total of 300 billion yuan ($42.6 billion) of seven-day reverse repos from August 12–16. It also lent another 400 billion
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