The PBOC provides temporary liquidity facilities

The People's Bank of China overtook open market operations on Friday for the sixth session in a row. The bank also announced that it will provide temporary liquidity facilities for the Lunar New Year, which will allow commercial banks to increase liquidity volumes before the Lunar New Year approaches.
The Bank of China noted that the reduction of bank reserve ratios could reach 2% for 30 days. The Bank of China set the day's exchange rate against the US dollar today at 6.5342 versus Thursday at 6.5421.