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CHINA PRESS: China's central bank will conduct its open market operations at a
proper and steady pace to stabilize liquidity in the interbank market amid
rising needs for cash in the oncoming Chinese New Year holiday, Financial News
reported Tuesday citing market sources and analysts.
- Corporate tax payment season has passed;
- Planned targeted reduction in reserve requirement ratio and contingent
reserve arrangement programs will boost liquidity, News said.
***Comment: PBOC is improving communication via its regular OMO to smoothen
market expectation and maintain steadiness.