PBOC conducts reverse repos

China's central bank conducted 697 billion yuan ($97.2 billion) of 7-day reverse repos at an interest rate of 1.5 percent on Wednesday. The move aims to offset the impact of concentrated maturities of reverse repos in the open market and other factors, and to keep liquidity in the banking system at an adequate level, the People's Bank of China said.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 5 pips to 7.1693 against the US dollar on Wednesday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

Xinhua - China Daily