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Top stories of the day: China macroeconomy -- Aug.21

2015-08-21 08:19

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1. China's central bank pumped another 120 billion yuan (nearly 19 billion U.S. dollars) into major commercial banks and brokerages via reverse repurchase agreement (repo) on Thursday, the largest single-day cash injection since Jan. 2014. It is the second reverse repo this week after the People's Bank of China (PBOC) unexpectedly put the same amount of liquidity into the market on Tuesday. Taking into account earlier reverse repos worth 90 billion yuan due on Tuesday and Thursday, the PBOC has made net money injections of 150 billion yuan this week, markedly up from 5 billion yuan a week ago.

2. The State Council, China's cabinet, issued guidelines for the scientific development and environmental protection of China's marine territory on Thursday. The National Plan for Developing Marine Functional Zones, ratified by Premier Li Keqiang, is an extension of a similar one issued for development on land in 2011.

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