The PBOC has tightened onshore liquidity through lending rate hikes and the suspension on open market operations.
from DailyFX - Forex Market News https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/china_news/2017/02/08/Chinas-Market-News-Government-Bond-Yields-Rise-Amid-Tightened-Liquidity-.html?DFXfeeds=forex:fundamental:daily_briefing:daily_pieces:china_news
China’s Market News: Government Bond Yields Rise Amid Tightened Liquidity
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