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China’s central bank has increased its gross injection of short-term liquidity into the financial system after concerns over a debt crisis at China Evergrande Group rocked global markets.
The People’s Bank of China injected 120 billion yuan ($ 18.6 billion) into the banking system through repurchase agreements, resulting in a net injection of 90 billion yuan. This corresponds to the amount seen on Friday, and was just below that of Saturday. Sentiment was also strengthened after Evergrande’s onshore real estate unit announced its intention to repay the interest due Thursday on its local bonds.
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