China Injects $17 Billion Amidst Concerns Over Evergrande

    The Central Bank of China pumped into the financial system, what is being called, one of the shortest short-term liquidity in eight months. This measure comes on close heels following concerns in the market brought on by China Evergrande Group’s crisis related to debt. 

    With a 7-day and fourteen-day reverse repurchase agreement, the People’s Bank of China injected in 110 billion equivalent to $17 billion of cash. This is one of the largest transactions in form of addition since January as far as open market operation is concerned when a crunch in funding caused the rates of interbank skyrocketing. 

    According to Bloomberg news, before Thursday, the People’s Bank of China had pumped in liquidity for 3 consecutive sessions, with the hope that this move would calm down the concerns related to the Evergrande debt crisis. 

    To calm the nervous markets is the need of the hour when the prime concern is that Evergrande’s capacity to be successful on the liabilities might affect the markets around the globe at large. 

    The main focus is to see whether the developer can shell out $83.5 million of interest due on Thursday on a 5-year dollar note as per Bloomberg news. 

    The short-term interbank rates slid since the People Bank of China pumped in cash into the financial markets. The repo rate overnight fell by 14 points and was recorded at 2.01%. This was the lowest ever since September 3rd. Alternatively, the 7-day rate slid for the third consecutive day straight. As far as governments bonds are concerned, the yield on the same dropped one basis point to as much as 2.85%. 

    Hong Kong-listed shares of the indebted developer escalated to 18% Thursday, according to Bloomberg News. In the morning the shares rose as much as 32% during trading while investors continued to bet on whether the company would avoid a “disorderly debt resolution” following the news that one of the units negotiated on yuan bonds for interest payments. 


    RELATED ARTICLES

    lessinvest.com savings

    Best Tips to Maximize LessInvest.com Savings Returns

    You know, when it comes to lessinvest.com savings, it's more than just numbers on a...
    Master Your Personal Finance

    Master Your Personal Finance: 5 Essential Money Management Tips

    Master Your Personal Finance. Feeling overwhelmed by bills and unsure where your money goes? Is...
    Holly andrews

    An Exclusive Interview with Holly Andrews, Managing Director of KIS Finance

    Holly Andrews stepped into the Managing Director role at KIS Finance in 2015 and didn’t...
    Precize Makes Investing in Unlisted Shares Easier, Safer, and More Accessible

    Precize Makes Investing in Unlisted Shares Easier, Safer, and More Accessible

    The Booming Market of Unlisted Shares in India India's financial ecosystem is witnessing a paradigm shift...
    2025 Web3 Investment Set to Explode After $7.4 Billion in VC Funding for 2024

    2025 Web3 Investment Set to Explode After $7.4 Billion in VC Funding for 2024

    2024 was a standout year for cryptocurrencies. Thanks to a spate of favorable regulatory and...
    lessinvest.com income

    Lessinvest.com Income Explained: How It Works

    Investing is perhaps the most effective way to build wealth and be financially secure in...
    cricket 07 wheon.com

    Cricket 07 Wheon.com: Why Gamers Love the Wheon Edition

    EA Sports Cricket 07, a game that has stood the test of time since its...
    Wheonx Health

    Wheonx Health: Redefining Wellness in 2025

    In the age of digital transformation, which is reaching into all industries, health care is...
    Wheon is now Wheonx

    Wheon Is Now Wheonx: Official Brand Update

    In a world of constant digital change, adaptability is a must. It is important to...
    write for us + areyoufashion com

    Write for Us + AreYouFashion.com: Tricks for Quick Approval

    Write for us + areyoufashion com gets your words out there, but finding places that...
    SD Mobile Point

    What Is SD Mobile Point? Streaming & Download Info

    In this digital age, mobile entertainment is at an all-time high. We see an increase...