China's central bank again moves to relieve liquidity crunch

08/6/2013 | Xinhuanet.com (China)

China's central bank extended its efforts to boost banking system liquidity Tuesday with 12 billion yuan of seven-day reverse repurchase agreement operations. The move was interpreted as no departure from the government's basic economic policy but rather "indicated that the central bank aims to guide the market borrowing costs to a lower level," said Jiang Chao, an analyst with Haitong Securities.

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