Bank of China pumps 120 billion yuan to the market

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On Thursday, as the day before, the People’s Bank of China pumped another 120 billion yuan into the financial system. This reported state press office Xinhua.

Half of this amount has a maturity of 7 days and the other half of 14 days.

There are serious concerns about the Chinese financial system due to the impending demise of property developer Evergrande, who is struggling with an immense debt of about 300 billion dollars.

The collapse of Evergrande would be the biggest test China’s financial system has undergone in years.

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