China's central bank continues to inject liquidity into market

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The People's Bank of China pumped 30 billion yuan (about 14.9 billion U.S. dollars) into the market through reverse repos after injecting 30 billion yuan on Wednesday.

China will maintain a prudent and neutral monetary policy in 2018 as it strives to balance growth and risk prevention.

BEIJING, July 19 (Xinhua) -- China's central bank continued to inject liquidity into the financial system through open market operations on Thursday.

The central bank conducted 70 billion yuan of seven-day reverse repos at an interest rate of 2.55 percent and 30 billion yuan of 14-day reverse repos at 2.7 percent.

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

The central bank increasingly relies on open-market operations, rather than changes in interest rates or reserve requirement ratios, to manage liquidity in a more flexible and targeted manner.