Key facts
- The People's Bank of China will inject up to 1 trillion yuan ($149 billion) daily via overnight reverse repo operations.
- The operations will be conducted from September 28 to October 8.
- The central bank aims to meet short-term liquidity needs in the banking system.
- China's interbank bond market will be closed from October 1 to October 7.
- China's stock market will resume trading on October 8.
SHANGHAI, Sept 23 (Reuters) - China's central bank announced on Wednesday that it will inject up to 1 trillion yuan ($149 billion) per day through short-term liquidity tools around the turn of the month as the Golden Week holiday approaches. The People's Bank of China stated in a release that it would conduct overnight reverse repo operations from September 28 to October 8 to address the banking system's short-term liquidity requirements. The bank did not specify the exact days for these operations or the borrowing costs. Liquidity demand typically increases in China before holidays. China's interbank bond market is scheduled to be closed from October 1 to October 7 for the National Day holiday, according to its website. The market was also closed from September 25 to September 27 for the Mid-Autumn Festival. China's stock market will also observe a holiday closure, resuming trading on October 8 after the Golden Week, as indicated by exchange websites.