Central bank resumes cash injection into money market

BEIJING - China's central bank injected 30 billion yuan ($4.76 billion) into the financial system via open market operations on Monday to maintain stable liquidity.

The People's Bank of China (PBOC) made the injection through 28-day reverse repos.

Chen Ji, an analyst with the Bank of Communications, said the move aims to ease the relatively tight liquidity facing the central bank in the middle of the year.

The central bank also pumped 40 billion yuan into the market through 7-day reserve repos.

China has set the tone of its monetary policy in 2017 as prudent and neutral, keeping an appropriate liquidity level but avoiding excessive liquidity injections.