China’s central bank continued to inject money into the financial system through open market operations on Wednesday.
The People’s Bank of China said on its website that it had carried out a seven-day buyback operation worth 300 billion yuan (about $43.63 billion) at an interest rate of 2 percent.
The move is aimed at maintaining stable liquidity until the end of the month, the central bank said.
Reverse repurchase transactions, known as “reverse repos”, are transactions in which the central bank buys securities from commercial banks at auction with an agreement to sell them back to them at a future date.
