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Evergrande crisis: China injects liquidity, adds $18.6 bn to banking system

The benchmark CSI 300 Index fell as much as 1.9 per cent Wednesday

Evergrande
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Losses came even as Wall Street analysts sought to reassure investors that Evergra­nde won’t lead to a Lehman moment

Tian Chen and Tania Chen | Bloomberg
China’s central bank boosted its gross injection of short-term cash into the financial system after concern over a debt crisis at China Evergrande Group roiled global markets. 

The People’s Bank of China pumped 120 billion yuan ($18.6 billion) into the banking system through reverse repurchase agreements, resulting in a net injection of 90 billion yuan. That matches the amount seen on Friday, and was just below that of Saturday. Sentiment was also boosted after Evergrande’s onshore property unit said it plans to repay interest due Thursday on its local bonds. 

“The PBOC’s net injection is probably aimed at soothing nerves as the

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