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MNI China Daily Summary: Tuesday, April 26

(MNI) London
BEIJING (MNI)
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POLICY: The People's Bank of China (PBOC) will step up prudent monetary policy's support to the real economy, especially for industries and small businesses hit hard by the pandemic, according to a statement released on Tuesday. Recent financial market volatility is driven by investor expectations and sentiment, but China’s economic fundamentals are sound with great growth potential, the PBOC added.

LIQUIDITY: The PBOC injected CNY10 billion via 7-day reverse repos with the rate unchanged at 2.1%. This keeps the liquidity unchanged after offsetting the maturity of CNY10 billion repos today, according to Wind Information. The operation aims to keep liquidity reasonable and ample, the PBOC said on its website.

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POLICY: The People's Bank of China (PBOC) will step up prudent monetary policy's support to the real economy, especially for industries and small businesses hit hard by the pandemic, according to a statement released on Tuesday. Recent financial market volatility is driven by investor expectations and sentiment, but China’s economic fundamentals are sound with great growth potential, the PBOC added.

LIQUIDITY: The PBOC injected CNY10 billion via 7-day reverse repos with the rate unchanged at 2.1%. This keeps the liquidity unchanged after offsetting the maturity of CNY10 billion repos today, according to Wind Information. The operation aims to keep liquidity reasonable and ample, the PBOC said on its website.

Keep reading...Show less