Wind data show the PBOC has 272 billion yuan of 7‑day reverse repos maturing
this week (Sept 21–24). Experts say the central bank’s liquidity injections are
becoming more flexible and targeted and are ample to offset major shocks;
funding should remain stable across the month and quarter and market rates are
likely to stay steady. Liu Yu, chief economist at Industrial Securities, expects
the PBOC to continue a flexible mix of 7‑day, 14‑day and overnight reverse repos
to smooth cross‑quarter and cross‑holiday funding‑rate volatility.
