# China Adds Market Support With More Cash, Strong Yuan Fix - Caixin Global

> The People's Bank of China injected 400 billion yuan into the banking system via reverse repos, the largest single-day addition since January 2019. It also set the yuan reference rate at 6.9779 per dollar, stronger than the prior close, as authorities sought to steady markets hit by the coronavirus outbreak.

- Date: 2020-02-04 · published 2020-02-04T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/5133-china-adds-market-support-with-more-cash-strong-yuan-fix-caixin-global
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Stronger yuan fixings and liquidity injections signal Chinese efforts to support growth and sentiment, which can support Chinese feed demand. A firmer yuan modestly supports import purchasing power for feed ingredients.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2025-05-28 | [China Pulls Back Support as Yuan Rebounds Against Dollar  - Caixin Global](https://feedsoft.ai/events/24886-china-pulls-back-support-as-yuan-rebounds-against-dollar-caixin-global.md) | -0.1% | -0.3% |
| USDCNY | 2024-03-28 | [China sets yuan at much stronger fixing than markets expected](https://feedsoft.ai/events/31439-china-sets-yuan-at-much-stronger-fixing-than-markets-expected.md) | +0.1% | +0.3% |
| USDCNY | 2021-11-11 | [Yuan Hits Five-Year High as Exports Surge - Caixin Global](https://feedsoft.ai/events/44270-yuan-hits-five-year-high-as-exports-surge-caixin-global.md) | -0.0% | -0.3% |
| USDCNY | 2020-02-04 | [China signals support for yuan with currency fix stronger than 7 per US dollar \| The Straits Times](https://feedsoft.ai/events/5134-china-signals-support-for-yuan-with-currency-fix-stronger-than-7-per-us-dollar.md) | -0.6% | -0.9% |
| USDCNY | 2024-02-06 | [China’s yuan rises on firmer-than-expected fix, stock market support - Markets - Business Recorder](https://feedsoft.ai/events/31899-china-s-yuan-rises-on-firmer-than-expected-fix-stock-market-support-markets.md) | -0.1% | -0.0% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2020-02-04/china-adds-market-support-with-more-cash-strong-yuan-fix-101511395.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.