This week China’s central bank has injected more than $90 billion into the market

Almaty. January 28. Silkroadnews – China’s central bank has made another major cash injection into the financial system, the informational portal China.org reports.
“China’s central bank made a big infusion of cash into the financial system for the second time this week to reduce short-term liquidity shortage on the eve of the Chinese New Year,” – said the publication on Thursday.
It is noted that the injected amount made almost $40 billion.
“People’s Bank of China has invested into markets 260 billion yuan ($ 39.7 billion) through 28-day reverse repurchase agreements and 80 billion yuan through 7-day reverse repurchase agreements,” - the newspaper notes.
It is reported, earlier this week, the People’s Bank of China has already made the injection in the amount of 440 billion yuan.
“The injections followed the repo operations in the amount of 440 billion yuan made on Tuesday. The biggest over the past three years’ liquidity injection made in one day resulted in the market supplemented by 590 billion yuan ($90.06) this week,”- says the publication.
It is noted that the price of 28-day reverse repo should be increased by 2.6%, and 7-day repurchase agreements – by 2.25%, as it was done on Tuesday, and at the interbank market on Thursday the Shanghai Interbank Offered Seller Rate fell slightly - to 1,992%.
According to the publication, all business operations in China will be suspended during the period February 7-13 because of the Chinese New Year celebration.  
“China’s financial markets and business operations will be closed from February 7 to February 13 to celebrate the Chinese New Year. At this time, we expect a huge demand for cash due to transportation costs and holiday shopping. Usually, prior to this holiday, the People’s Bank of China carries out the injection of the additional funds into the financial system,” says the publication.