People's Bank of China unveils new policies
The Chinese Central Bank has announced new financial measures to strengthen its monetary tools, including improving the short-term interest rate regulation mechanism and launching a yuan repurchase center for foreign investors, aimed at making yuan-denominated assets more attractive and supporting the yuan's position as a global reserve currency. It also plans to experiment with offshore yuan trading and enhance external financing, while seeking to control the money market more precisely and reduce its volatility. This will be achieved by offering a narrower range for overnight repurchase rates, which could help support the financial market without altering the official interest rate.
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