PBOC conducts reverse repos

China's central bank conducted 571.9 billion yuan ($80.96 billion) of seven-day reverse repos at an interest rate of 1.7 percent on Friday. The move aims to keep liquidity in the banking system reasonable and ample, the central bank said. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Loan prime rates remain unchanged

China's one-year loan prime rate, a market-based benchmark lending rate, came in at 3.35 percent Friday, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.85 percent, according to the National Interbank Funding Center.

Xinhua - China Daily