China's central bank continued to inject funds into the financial system through open market operations on Tuesday.

The People's Bank of China said on its website that it has conducted 278 billion yuan (about 40.44 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.

The move is aimed at keeping liquidity stable at the end of the 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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