After reaching a record of 1.2 trillion yuan (US $ 171.4 billion) in open mayor operations in one day, the People’s Bank of China (PboC - central bank), continued to pump 500 billion yuan. Currency (nearly US $ 71.5 billion) cash into the market through reverse acquisitions on February 4.

The above move shows PboC’s determination in stabilizing the market and promoting market confidence.

After taking into account the matured agreements on February 3 and 4, the amount of net cash injected into the Chinese banking system stood at 550 billion yuan, including 150 billion yuan on the 3rd. / 2 and 400 billion yuan on February 4.

According to PboC, the above cash can help lower interest rates in the money market and the bond market, thereby reducing capital costs, reducing financial pressure of businesses, especially small and micro enterprises. , expanding financial scale and supporting the economy.

Money-pumping moves were taken as China sought to control the spread of an acute respiratory infection caused by the new strain of the Corona virus, welcomed by international organizations.

In a statement, the World Bank said the Chinese authorities had room to deal with the disease and announced a large amount of cash injection, helping to minimize the impact on the increase. economic growth.

The World Bank supports China ’s response efforts , including efforts to maintain the economic resilience.

Earlier, on February 3, the International Monetary Fund also expressed its support for China’s efforts to prevent the acute respiratory infection caused by the new strain of the Corona virus and believes the country’s economy remains firm.

Open market operations have lowered borrowing costs in the interbank market.

Interbank overnight interest rates, a measure of the cost of borrowing in the interbank market in China, fell by 23.1 basis points to 2.273% on February 4.