PBoC Governor Pan says monetary policy maintains a supportive stance, will be increasing the southbound bond connect quota to CNY 800bln from CNY 500bln

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PBoC injects CNY 10bln via 7-day reverse repos with rate maintained at 1.40%

PBoC sets USD/CNY mid-point at 6.8054 vs exp. 6.7838 (prev. 6.8066)

PBoC Governor Pan says monetary policy maintains a supportive stance, will be increasing the southbound bond connect quota to CNY 800bln from CNY 500bln

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  • To support more good companies to list in Hong Kong.
  • Will keep increasing China's FX reserves allocation in Hong Kong.
  • China will support Hong Kong to launch CNY-denominated commodities futures trading.

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