China News Service, February 8th. According to the website of the central bank, residents' demand for cash withdrawal before the Spring Festival this year is significantly lower than in previous years, and fiscal expenditures before the holiday have increased significantly.
In order to maintain stable liquidity before the Spring Festival, on February 8, 2021, the People's Bank of China launched a reverse repurchase operation of 110 billion yuan by way of interest rate bidding.
Details are as follows:
Image source: screenshot of the central bank website