The People's Bank of China, China's central bank, conducted 40 billion yuan worth of 7-day reverse repos at annualized yield of 2.5 percent in Thursday's open market operations. Statistics show 70 billion yuan of reverse repos were due this week, and the central bank had offered 50 billion yuan of reverse repos on Tuesday. As a result, the central bank injected a net 20 billion yuan into the financial system this week. Traders noted that the liquidity condition in the financial system remained relatively loose after the central bank's continuous reverse repo offerings.
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