Central bank continues to inject money into market

BEIJING - China's central bank continued its net cash injections via open market operations on Tuesday.

The People's Bank of China (PBOC) conducted 80 billion yuan ($11.6 billion) of reverse repos, a process by which the central bank purchases securities from banks through bidding, with an agreement to sell them back in the future.

The injection saw a net 30 billion yuan pumped into the market Tuesday, offset by 50 billion yuan in maturing reverse repos.

The operations included seven-day reverse repos priced to yield 2.45 percent, 14-day contracts with a yield of 2.6 percent, and 28-day agreements with a yield of 2.75 percent, according to a central bank statement.