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Liquidity Ample Despite Central Bank Draining Operations

11-13 12:46 Caijing



» There is still sufficient liquidity in China's banking system despite the central bank conducting a net drain of funds for five consecutive weeks after the week-long National Day holiday, analysts told Caijing on Thursday.
» The People's Bank of China mopped up 81 billion yuan (US$ 11.86 billion) via regular open market operations this week, sustaining a policy reversal after it boosted funds for six straight weeks before the holiday, according to Wind Info, which tracks China's capital market.
» Banks have ample funds to trade in the bond market due to reduced lending, and the period of rapid credit growth has passed, an analyst with Shenyin & Wangguo Securities said.
From wires
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