The People's Bank of China (PBOC), the country's central bank, said on Thursday that it will conduct an outright reverse repo operation worth 300 billion yuan (about 42.2 billion U.S. dollars), in a move aimed at keeping liquidity ample in the banking system.
The operation will run for three months and be conducted through fixed-quantity, interest-rate bidding with multiple price awards, according to the central bank's announcement.
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 purchase and sale of treasury bonds.
China's central bank to inject 300 billion yuan via outright reverse repo
China stands ready to work with Mekong countries in the direction set by the leaders and jointly usher in a new Lancang-Mekong Cooperation (LMC) golden decade, Foreign Ministry spokesman Guo Jiakun said at a regular press briefing in Beijing on Thursday.
The 11th LMC Foreign Ministers' Meeting was held in Beijing on Wednesday, which comes on the 10th anniversary of the first LMC Leaders' Meeting. Chinese Foreign Minister Wang Yi and Thai Deputy Prime Minister and Minister of Foreign Affairs Sihasak Phuangketkeow co-chaired the meeting.
The six LMC countries agreed at the meeting that over the past decade, LMC has grown with strong momentum in all dimensions, at various levels and in multiple areas, delivered tangible results beneficial to all and boosted the modernization of the six countries, said Guo.
"Foreign Minister Wang Yi stressed that China stands ready to work with Mekong countries in the direction charted by our leaders, take down-to-earth actions to solve problems and improve people's well-being, and take more effective measures to jointly advance modernization, set LMC as a leading example of regional cooperation and solidarity and collective strength of the Global South, and jointly usher in a new LMC golden decade," said Guo.
The LMC mechanism comprises six countries, namely China, Cambodia, Laos, Myanmar, Thailand, and Vietnam.
China willing to work with Mekong countries for new 'golden decade' of Lancang-Mekong cooperation: spokesman
