China boosts bank liquidity with $65b fund injection

SHANGHAI, Dec 11 (AFP) : China's central bank has stepped up its efforts to pump more cash into its banking system with a $65 billion fund injection, Dow Jones Newswires reported Thursday.

The People's Bank of China (PBoC) on Wednesday injected around 400 billion yuan into the interbank market where banks borrow from each other, Dow said, citing people familiar with the matter.

It came after an earlier 500 billion yuan injection into the country's five biggest state-owned banks in September through a tool to manage short-term liquidity, according to state-run media. The loans were set to expire this month.