The People’s Bank of China (PBoC) injected a total of US$16.83 billion into the money market this week as it warned that the economy is in a critical stage of recovery, Dow Jones and Bloomberg reported. In a statement on its website, the central bank said it would "guide reasonable growth in money and credit" to strengthen the economy. The PBoC hopes to ensure sufficient liquidity in the banking system as China’s stock markets prepare for the resumption of listings, which had been unofficially suspended since late last year. On Thursday, the PBoC sold US$7.3 billion worth of three-month bills at 0.9650%, the same rate as three-month bills the bank sold last week.
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