China successfully launched the Tianhui 5-02 satellite group at 6:49 a.m. Friday from the Taiyuan Satellite Launch Center in the northern province of Shanxi.
The satellite group was carried by a modified Long March-6 carrier rocket and has entered the planned orbits.
This group of satellites will be used for geographic mapping, land resource surveys, scientific experiments and other purposes.
It was the 527th mission of the Long March series carrier rockets.
China successfully launches new satellite group
China's central bank said it will carry out temporary repos or reverse repos based on market conditions starting from Monday.
The move aims to keep liquidity reasonable and ample in the banking system and improve the accuracy and effectiveness of open market operations, the People's Bank of China said in a statement.
These overnight temporary repos and reverse repos will be conducted through bidding, with their interest rates set on the basis of the seven-day reverse repos.
Experts say these operations will further enrich monetary policy toolbox and help the central bank adjust market liquidity in a more timely and accurate manner.
Temporary reverse repos can provide funds to institutions when the market is under liquidity strains, while temporary repos can help drain excess liquidity.
A repo, or repurchase agreement, is a process in which the central bank sells bonds to financial institutions and promises to buy them back in the future.
In the Government Work Report released in March, the country vowed to continue to implement a proactive fiscal policy and a prudent monetary policy this year. It also pledged to maintain adequate liquidity at a proper level and see that aggregate financing and money supply stay in step with the projected economic growth and Consumer Price Index increase.
China's central bank to conduct temporary repos, reverse repos from Monday
