China's Central Bank Boosts Credit

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China's central bank has bought back a record 45 billion US dollars worth of securities to avoid a credit crunch ahead of the week-long National Day and Mid-Autumn Holiday. On Tuesday the People's Bank of China pumped a record 45 billion US dollars into the money markets, through reverse repurchase agreements. The stimulus is a bid to ease a cash crunch in the end of the third quarter.
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Producer : Xinhua News Agency

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