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CHINA PRESS

The PBOC may inject additional funds via reverse repo operations this month as tax payments and the large scale of government bond issuance drains liquidity, the China Securities Journal reported citing unidentified market sources. October is the traditional peak season for tax collections, while analysts expect the net supply of both China Government Bonds and local government bonds to exceed CNY700 billion this month, straining liquidity, the newspaper said. As the PBOC previously suspended reverse repo operations there are only CNY100 billion of reverse repos maturing, leaving room for new injections, the Journal said.