China's central bank continues to skip reverse repos Friday

BEIJING - The People's Bank of China (PBOC), the country's central bank, continued to skip open market operations via reverse repos on Friday.

The banking system reports reasonable and sufficient liquidity at present, the PBOC said in an online statement.

No reverse repos matured Friday.

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.

The country will continue to implement a proactive fiscal policy and prudent monetary policy, according to the annual Central Economic Work Conference held in December 2019.