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The National Exhibition and Convention Center in Shanghai, venue for the annual China International Import Expo (CIIE). [Photo/IC]

The PBOC is responsible for the "wholesaling" of digital RMB to designated commercial banks, and in charge of the whole "life-cycle" management of the system. Commercial banks and other institutions are responsible for providing digital RMB exchange and circulation services to the public.

The PBOC said in a statement that Saturday's operation is aimed at maintaining reasonable and sufficient liquidity in the banking system.

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The NBS reported May growth of 8.1 percent for the service sector on Wednesday, flat with April and extending the rally since the beginning of the year. The data confirmed the message that the ongoing growth model transitioning was providing new impetus to the world's second largest economy.

The Neiman Marcus store is seen during the outbreak of the COVID-19 in New York City, US, April 19, 2020. [Photo/Agencies]

The NBS attributed the lower CPI reading to sharply lowering food prices, which fell 1.9 percent in March. Vegetable prices dropped the most, by 7.9 percent from February.

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The PBOC is also expected to reduce the amount of cash banks must hold and ease monetary further.

The National Development and Reform Commission said in an announcement released on Wednesday that a thorough investigation will be conducted to deter risks of paying principal or coupons of corporate bonds.

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The NDRC said it will enact key measures to rectify the rare-earth market order, improve management of the market, create a better business environment, make breakthroughs in key rare-earth-related technologies and crack down on violations of laws and regulations.

The NEXO, another hydrogen fuel cell vehicle from Hyundai was another of the company's models on show that attracted attention.