China's central bank, the People's Bank of China (PBOC), has been active in managing liquidity and the exchange rate. In September 2024, bond issuances in China reached 7.6 trillion yuan (approximately 1.07 trillion U.S. dollars). On November 4, 2024, the PBOC set the USD/CNY reference rate at 7.1203, slightly lower than the estimated 7.1208. The central bank also injected 17.3 billion yuan through 7-day reverse repos at an interest rate of 1.50%, while draining a net 224.3 billion yuan in liquidity via open market operations. The PBOC cut the CNY Central Parity Rate by 68 pips. The PBOC has scheduled reverse repo dues amounting to 1,400.1 billion yuan for the week.