PBOC acts to avert credit crunch

|By:, SA News Editor

The People's Bank of China has made an emergency injection of liquidity into the country's financial system after money market rates started to rise again due to lack of action by the PBOC earlier and increasing demand for money. That led Chinese shares to fall.

The bank carried out a "short-term liquidity operation" to provide credit to banks that require more cash.

ETFs: FXI, PGJ, GXC, FXP, HAO, CYB, YINN, CNY, TAO, CHIQ, CHIX, YANG, MCHI, PEK, CQQQ, ASHR, XPP, QQQC, DSUM, YAO, CHXX, CHII, FXCH, CHXF, KWEB, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA