BEIJING, June 29 (Xinhua) — China’s central bank continued to inject funds into the financial system through open market operations Thursday.
The People’s Bank of China said it conducted 193 billion yuan (about 26.73 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.9 percent.
The move aims to keep stable liquidity in the banking system at the end of the first half of this year, the central bank said.
A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.