The People's Bank of China, the country's central bank, will drain 17 billion yuan ($2.6 billion) from the domestic market in the coming week, as slews of its reverse repurchase agreements are set to mature, according to the China Securities Journal.
The agreements are part of the central bank's medium-term lending facility, a tool that it uses to inject or drain money from the market to maintain stable liquidity by allowing commercial and policy banks to borrow from the central bank.
