CHINAUS AFRICAASIA 中文双语Français
Business\Markets

China provides short-term liquidity support for big banks

Xinhua | Updated: 2017-01-21 10:03

China provides short-term liquidity support for big banks

A clerk of ICBC bank counts Chinese one hundred Yuan at its branch in Beijing, China, April 13, 2016.[Photo/Agencies]

BEIJING - China's central bank has provided provisional liquidity support for several big commercial banks to meet rising cash demand ahead of the upcoming Spring Festival.

The term of the operation is 28 days and interest rates are generally the same as similar open market liquidity facilities, the People's Bank of China said Friday in a statement released on its official Weibo account.

The move aims to ensure stability in the banking system and money market ahead of the Chinese lunar new year, which falls on Jan 28 this year.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US