国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Macro

Central bank starts $4.8b repurchase operation

Xinhua | Updated: 2013-02-20 02:19

BEIJING - The People's Bank of China (PBOC) on Tuesday started a 28-day repurchase operation worth 30 billion yuan (4.8 billion U.S. dollars) for the first time since June, according to a statement on its website.

A repurchase operation is a central bank operation to withdraw funds in the open market to prevent rampant liquidity.

Chinese stocks dived on Tuesday, with the benchmark Shanghai Composite Index plunging 1.6 percent on the heels of the central bank's move.

The PBOC started the repurchase operation shortly after the seven-day Spring Festival holiday, in a bid to address the potential for excessive liquidity and a rapid increase in foreign exchange among financial institutions, analysts said.

Zhou Jingtong, a PBOC researcher, said the surge in China's exports is likely to greatly increase the funds outstanding for foreign exchange, calling for the PBOC's repurchase operation.

The country's exports surged 25 percent year on year in January, marking the fastest pace since April 2011 and up from the 14.1 percent rise in December 2012.

Meanwhile, the PBOC also suspended the offering of reverse repurchase (repo) agreements for the first time in the past eight months.

The PBOC provided a huge reverse repo worth a total of 860 billion yuan in the week ahead of the Chinese Lunar New Year, which fell on February 10 this year. It recorded a record-high fund injection in a single week, which guaranteed liquidity during the holiday in case money market rates skyrocketed on rising cash demand.

Analysts also said the repurchase operation is not a signal that the central government is changing the monetary policy, as this would require more observation.

Lu Zhengwei, chief economist with Industrial Bank, also said he believes the operation is an annual routine around the Spring Festival and does not signal a tightening monetary policy.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
平远县| 绥化市| 连云港市| 成武县| 桑植县| 东乡县| 普陀区| 耿马| 碌曲县| 清新县| 洮南市| 沙田区| 潢川县| 高阳县| 宣汉县| 佳木斯市| 嘉义市| 梁平县| 宁安市| 万源市| 博客| 绥芬河市| 南充市| 永州市| 册亨县| 盐津县| 伊金霍洛旗| 六安市| 织金县| 磴口县| 新郑市| 大方县| 综艺| 无为县| 南澳县| 库车县| 葫芦岛市| 会同县| 昌宁县| 伊春市| 菏泽市|