Central bank conducts reverse repos

China's central bank conducted 538.9 billion yuan ($75 billion) of seven-day reverse repos at an interest rate of 1.5 percent on Wednesday. The move aims to keep liquidity in the banking system at an adequate level, the central bank said.

Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 8 pips to 7.1705 against the US dollar on Wednesday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

Xinhua - China Daily