The Chinese central bank has removed $8bn (£4.7bn) from the country's money markets in an attempt to control the amount of financial credit in its economy.
The People's Bank of China (PBOC) issued 14-day bond repurchase agreements, known as 'forward repos'. It is the first time these agreements have been made by the PBOC since June 2013. And it comes following unusually strong economic growth data reported earlier this year.
Analysts suggest the the PBOC has done this to reduce the amount of money available to banks to prevent potentially risky investments.
China's economy has been huge growth over the past five years, but it has come at a cost. China has amassed the same amount of debt in five years, as the whole of the USA's commercial banking sector has in the past 100 years.
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