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Liquidity in August will continue to....>

CHINA PRESS
CHINA PRESS: Liquidity in August will continue to be tight yet balanced, the
Securities Daily reported Wednesday. The People's Bank of China in July
conducted medium-term lending facility (MLF) of CNY 360 billion, standing
lending facility (SLF) of CNY13.981 billion and injected CNY58.3 billion pledged
supplementary lending (PSL) into China Development Bank, The Export-Import Bank
of China and Agricultural Development Bank of China. Reverse repo maturities,
tax and dividends will affect liquidity in August, the newspaper said. The use
of MLF, PSL and SLF by the PBOC are expected in August to maintain stable
liquidity as the bank experiments with "creative macro-control methods," the
report said quoting an unidentified trader from a state-owned commercial bank.
(Securities Daily)

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