China’s central bank continued to inject funds into the financial system through open market operations Wednesday. The People’s Bank of China said it conducted 104b yuan of seven-day reverse repos at an interest rate of 1.9pc. The move is aimed at keeping liquidity stable at the end of the month, the central bank said. 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.—APP
