China Launches New Finance Tool

China's central bank launched a new tool on October 28 to add more money to the banking system.

This helps banks keep lending as big loans come due at year-end. The new lending tool, called a reverse repo, lets banks get cash for up to a year.

This is longer than usual, as typical reverse repos last only a few weeks.

The goal is to ease pressure on banks and support China's economy, which is struggling with slow growth and weak consumer confidence.