China injects billions into market over March

(MENAFN) China's central bank continued to pump money into the financial system on through open market operations to balance a pre-holiday cash crisis, based on recent reports.

The financial institute used standing lending facilities, medium-term lending facilities and pledged supplementary lending, to offer more than USD228 billion for the market in March.

The processes consist of a 14-day reverse repurchase agreements (repo) priced to yield 2.4 percent and a 28-day reverse repo with a yield of 2.6 percent, each worth USD7.6 billion respectively.

According to the bank's released statements, the money injection was basically targeted at easing liquidity pressure, and support SMEs in operating sufficiently and without any problems.