China's PBOC says no intention to actively drain cash from banking system

SHANGHAI: The policy loan operation of China's central bank on Friday fully met market demand and its stance of keeping banking system liquidity reasonably ample has not changed, the central bank-backed Financial News reported, citing industry sources.

Earlier, the People's Bank of China (PBOC) left a key policy rate unchanged while withdrawing cash from a medium-term policy loan operation for the first time in 16 months.