China's central bank continues to skip open market operations

BEIJING - China's central bank continued to skip open market operations on Thursday, citing abundant liquidity in the banking system.

The People's Bank of China said liquidity had been at a relatively high level.

The central bank has skipped reverse repos for six consecutive working days.

No reverse repo is due on Thursday.

A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.