Beijing is poised to pump extra cash into China’s financial system on Monday, as part of a package of emergency measures to shield the economy from the effects of the deadly coronavirus outbreak.
China’s central bank said on Sunday that it would provide Rmb1.2tn ($173bn) in additional liquidity to money markets, as trading was set to resume on the country’s stock exchanges following an extended closure.
The liquidity injection will be China’s largest single-day open market operation since 2004, according to Bloomberg, although the net addition of liquidity will be lower because more than Rmb1tn of short-term funds will mature on Monday.
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