China continues to withdraw cash from its banking system for the fifth consecutive month, reflecting a cautious approach towards monetary easing amidst increasing currency depreciation pressures. The People's Bank of China recently drained 3 billion yuan through its medium-term lending facility, while maintaining the interest rate on one-year policy loans at 2.5%. This move comes as the Third Plenum meeting commences in Beijing, where significant policy decisions have been historically made. The decision to drain cash signals the central bank's commitment to maintaining stability in the face of economic challenges, suggesting a nuanced approach to managing liquidity and economic growth. As China navigates uncertain economic waters, the outcomes of the Third Plenum could have far-reaching implications for the country's financial landscape.