China Pumps $24.7 Billion Into Financial System

Peace and Freedom

Cash injection follows comments from officials suggesting concern that moves to tighten regulation have caused disruption

A woman walks past the People's Bank of China headquarters in Beijing on March 9, 2017.
A woman walks past the People’s Bank of China headquarters in Beijing on March 9, 2017. PHOTO: BLOOMBERG NEWS
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Updated May 16, 2017 5:19 a.m. ET

SHANGHAI—China’s central bank made its biggest one-day cash injection into the country’s fragile financial markets in nearly four months Tuesday, a fresh sign that Beijing is trying to mitigate the damage to investor confidence inflicted by its recent campaign to tamp down speculation fueled by excessive borrowing.

The People’s Bank of China pumped a net 170 billion yuan ($24.7 billion) into the financial system via its daily money-market operation, the largest amount since just before the Lunar New Year holiday in January.

The huge provision of cash follows comments from Chinese officials in recent days that suggest they are concerned…

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