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PBOC continues liquidity injection

China's central bank continued net cash injections into the money market on Tuesday to ease liquidity strain. The People's Bank of China conducted 300 billion yuan ($45.2 billion) of reverse repos, pumping a net 80 billion yuan into the market as 220 billion yuan of reverse repos matured. Reverse repo is a process by which the central bank purchases securities from commercial banks through bidding with an agreement to sell them back in the future. Tuesday's operation came after a net injection of 40 billion yuan on Monday, 90 billion yuan on Friday and 20 billion yuan on Thursday, as maturing reverse repos and tax payments put pressure on liquidity near the end of month.