PBOC continues to inject liquidity into market

BEIJING - China's central bank continued to inject funds into the market on Wednesday to maintain liquidity.

The People's Bank of China (PBOC) conducted 150 billion yuan ($21.6 billion) of seven-day reverse repos at an interest rate of 2.55 percent, unchanged from the previous operations.

The move aimed to offset the impact of factors including tax payments and government bond issuance and keep liquidity in the banking system at a reasonable and ample level, according to a PBOC statement.

A reverse repo is a process by which the central bank bids and buys securities from commercial banks with an agreement to sell them back in the future.

China will continue to implement a prudent and neutral monetary policy and properly deal with the relationship between stabilizing growth, deleveraging and strengthening regulatory control.