Quantcast
logo

China's Central Bank Pumps $24.7 Billion into Financial System

  • As per reports, the biggest one-day cash injection was made by China’s central bank into the fiscal system in nearly four months on Tuesday.

    A net 170 billion yuan (US$24.7 billion) was pumped on Tuesday by the People’s Bank of China into the financial markets of the country.

    Officials expressed their concern mentioning that recent moves to tighten market regulation led to high interruption.

    Reports also say that after the PBoC’s recent move, the Shanghai stock market rose 0.7% on Tuesday, which earlier fell by nearly 1%.