Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: RealMuLan who wrote (36693)	7/29/2003 11:43:20 AM
From: RealMuLan	Read Replies (1) of 74559

China works to soak up money, avert inflation Reuters Shanghai, July 29 China's central bank is making fresh efforts to drain money from circulation after statistics showed a surge in money supply, fanning worries over potential inflation, bankers said on Tuesday. The People's Bank of China will issue on Tuesday 30 billion yuan ($3.62 billion) in short-term commercial bills in its open market operations to help curb excess money supply, it said in a statement published on the Web site www.chinabond.com.cn. This is the second consecutive week the bank has raised its bill issue to 30 billion yuan, up from 10 billion or 20 billion in the previous two weeks, after official figures this month clearly signalled an oversupply, bankers said. hindustantimes.com

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