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Reuters

China’s central bank on Monday injected medium-term loans into the banking system, while keeping the interest rate unchanged for an 11th straight month.
The People’s Bank of China (PBOC) said in a statement it was keeping the rate on 100 billion yuan (US$15.37 billion) worth of one-year medium-term lending facility (MLF) loans to financial institutions steady at 2.95 per cent from previous operations.
The PBOC also said the operation was a rollover of the same amount of maturing MLF loans due on Tuesday.
New bank loans in February fall less than expected, as ‘real financing demand is very strong’
It added that it has injected another 10 billion yuan worth of seven-day reverse repos into the banking system.
With same amount of reverse repos maturing on the same day, the central bank has made no fund injection or withdrawal on a net basis on the day.


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China economy

China keeps interest rate unchanged for 11th straight month, rolls over 100 billion yuan of medium-term loans

The People’s Bank of China (PBOC) also said it had injected another 10 billion yuan (US$1.5 billion) worth of seven-day reverse repos into the banking system. Photo: Reuters

The People’s Bank of China (PBOC) also said it had injected another 10 billion yuan (US$1.5 billion) worth of seven-day reverse repos into the banking system. Photo: AFP

China economy advanced in January and February, but mixed data underscores uneven nature of recovery

Retail sales grew by 33.8 per cent in the combined figures for January and February, compared to a growth of 4.6 per cent in December. Bloomberg

Fixed asset investment – a gauge of expenditure on items including infrastructure, property, machinery and equipment – grew by 35 per cent in the combined figures for January and February compared to a year earlier. Photo: AFP

China’s steel city Tangshan vows to crack down on pollution after weeks of heavy smog

Tangshan is China’s biggest centre of steel production. Photo: Reuters

China’s truck drivers still have a long road to post-coronavirus recovery

The economic stress of the coronavirus has filtered down to the nation’s army of 30 million long-distance truck drivers. Photo: Reuters

The economic stress of the coronavirus has filtered down to the nation’s army of 30 million long-distance truck drivers. Photo: Bloomberg

China’s plan to raise retirement age will be gradual process, government researcher insists

China’s elderly population is rising while the workforce is shrinking. Photo: AFP

African swine fever still ‘major risk factor’ for China as it bans Malaysian pig imports over outbreak fears

African swine fever first appeared in China in 2018, creating a severe shortage of the staple meat in the world’s largest pork consuming country, resulting in skyrocketing food prices. Photo: Reuters

African swine fever first appeared in China in 2018, creating a severe shortage of the staple meat in the world’s largest pork consuming country, resulting in skyrocketing food prices. Photo: EPA-EFE

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China


The rate on 100 billion yuan (US$15.37 billion) worth of one-year medium-term lending facility (MLF) loans to financial institutions is being kept steady at 2.95 per cent
The People’s Bank of China (PBOC) also said the operation was a rollover of the same amount of maturing MLF loans due on Tuesday



The rate on 100 billion yuan (US$15.37 billion) worth of one-year medium-term lending facility (MLF) loans to China’s financial institutions is being kept steady at 2.95 per cent.


Central banks

Banking & finance

Yuan

Interest rates