China's central bank injects liquidity into market
BEIJING, Sept. 28 (Xinhua) -- China's central bank on Monday continued to pump cash into the banking system via reverse repos to maintain liquidity.
The People's Bank of China injected 40 billion yuan (about 5.86 billion U.S. dollars) into the market through 14-day reverse repos at an interest rate of 2.35 percent, according to a statement on its website.
The move was intended to maintain stable liquidity in the banking system at the end of the third quarter, 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.
China pursues a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.
[ Editor: WPY ]
More From Guangming Online
Medics from Fujian leave for Shanghai to aid in battle against COVID-19 resurgence
New int'l land-sea transport service to Indo-China Peninsula launched
Another makeshift hospital under construction in Shanghai
Tourists view tulips in Suiping County, Henan
In pics: blooming gagea flowers on grassland in Zhaosu, Xinjiang
Greek workers stage 24-hour general strike over high prices