People's Bank of China skipping open market operations again today

  • Citing a high level of liquidity
  • By foregoing OMOs today the bank has net drained 30bn yuan (due to maturing notes)
  • For the week, drain of net 290bn yuan via OMOs (net 80 bn yuna injection the previous week)

A weaker CNY against the USD .... (not so many 8s as yesterday either)

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Other China news

  • China state planner approves $1.77 bln highway project in Beijing (via Reuters)

The state planner is the National Development and Reform Commission of the People's Republic of China (NDRC),