The People's Bank of China, the country's central bank, announced on Wednesday that it will conduct a 900-billion-yuan (about 128.35 billion U.S. dollars) outright reverse repo operation on Thursday to maintain ample liquidity in the banking system.
The operation will be carried out with a fixed quantity through interest-rate bidding, with winning bids determined at multiple price levels. It will have a tenor of six months, or 181 days, according to the central bank.
Outright reverse repo operations -- a tool the central bank introduced in October 2024 to manage liquidity in the national banking system -- are conducted each month with a tenor of no more than one year.
These operations have enriched the country's monetary policy toolkit, complementing previous measures such as temporary repos, temporary reverse repos, and the buying and selling of treasury bonds.
China's central bank to conduct 900-billion-yuan outright reverse repo operation
Canadian Prime Minister Mark Carney arrived in Beijing on Wednesday for an official visit to China through Saturday.
This visit marks the first trip to China by a Canadian Prime Minister in eight years.
When briefing on the visit of Carney, a Chinese foreign ministry spokesperson said President Xi Jinping will meet with the Canadian prime minister to provide new strategic guidance for further improving and developing China-Canada relations.
Chinese Premier Li Qiang and Chairman of China's National People's Congress Standing Committee Zhao Leji will hold separate talks and meetings with the Canadian prime minister to conduct comprehensive and in-depth exchanges on bilateral relations as well as issues of mutual interest.
The spokesperson said China looks forward to taking this visit as an opportunity to enhance dialogue and communication, increase political mutual trust, expand practical cooperation, properly manage differences, address each other's concerns and consolidate the momentum of improvement in China-Canada relations to bring greater benefit for the two peoples.
Canadian PM arrives in Beijing for official visit
