China central bank reverse repo volume at zero for third day in a row

Business Recorder reported that China's central bank recorded zero volume in its seven-day reverse repo operations for a third straight day on Thursday. The online statement linked the nil figure to demand from primary dealers. The operations form part of the bank's open market activity.

Separately, the People's Bank of China said on Wednesday it would offer up to 600 billion yuan, equivalent to $88.98 billion, in overnight reverse repos each day on August 14 and August 17-19. The PBOC uses this short-term liquidity instrument to adjust cash conditions within the banking system.

The announcements concern a central bank tool rather than any named company or sector. They do, however, show how short-term liquidity is being handled in China's financial system at present.