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China Money Markets Face $411 Billion Crunch as Congress Nears - BLOOMBERG

FEBRUARY 14, 2025
  • Funds will be absorbed by maturing policy loans, bond sales
  • Tight liquidity helps to keep yuan stable: Standard Chartered

China’s money markets are expected to see a liquidity withdrawal of more than 3 trillion yuan ($411 billion) over the remainder of this month, helping to keep funding costs elevated before key meetings of lawmakers in March.

The bulk of the liquidity drain will come from the 2.4 trillion yuan needed to pay back the maturities of so-called policy loans from the central bank. A further 820 billion yuan is expected to be absorbed by bond issuance from local governments, based on monthly estimates from brokerage Huachuang Securities and data compiled by Bloomberg.





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