And, in open market operations:

  • To inject 110 bn yuan through 7-day reverse repos
  • To inject 30 bn yuan through 14-day reverse repos

Net injection is 10bn yuan

USD/CNY to its lowest since the middle of February

--

Yesterday the People's Bank of China injected 190bn yuan via OMOs (net 170bn yuan)

  • This was the largest injection since just before the Lunar New Year holiday back in January

Says the Wall Street Journal:

  • The huge provision of cash follows comments from Chinese officials in recent days that suggest they are concerned that recent moves to tighten market regulation have caused too much disruption.

(may be gated)