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According to a CAN    editor, China’s central bank, the People’s Bank of China (PBOC) said it will start conducting 5-billion-yuan worth of central bank bills swap (CBS) this Friday.

This is the second CBS operation to improve the liquidity of perpetual bonds issued by commercial banks, he added.

Meanwhile, the PBOC kept a neutral position in Open Market Operations (OMO) while skipped reverse repos today.

more to come …