The People's Bank of China, China's central bank, conducted 30 billion yuan worth of 7-day revere repos at annualized yield of 2.25 percent in Thursday's open market operation.
Given that 30 billion yuan worth of reverse repos are due this week, together with the 50 billion yuan of 7-day reverse repos offered on Tuesday, the central bank injected a net 50 billion yuan into the financial system. Traders noted that the move showed the central bank's intention to keep liquidity environment stable after the resumption of initial public offerings this week.
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