USD / CNY middle point for the day from the PBOCTrading is permitted in a +/- 2% from the reference rate. However, if trading USDCNH (offshore yuan), anything goes.
In Open Market Operations, the PBOC will:
- inject 60bn yuan via 14 day reverse repos
- inject 100 bn yuan through 7 day reverse repos
Reverse repo injections match maturities for the day.