China's central bank injected funds into the financial system through open market operations on Friday.

The People's Bank of China said on its website that it has conducted 189 billion yuan (about 27.5 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.

The move is aimed at keeping liquidity stable in the banking system at the end of this quarter, according to the central bank.

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.

Source:
courtesy of XINHUA NEWS AGENCY

by XINHUA NEWS AGENCY

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