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PBOC skips open market operations

The People's Bank of China, the central bank, suspended open market operations on Wednesday to maintain reasonable and ample liquidity in the financial system. "Near the end of the month, gradual fiscal expenditure can offset the impact from factors including payment for newly-issued government bonds," the PBOC said on its website. Previously, the central bank had pumped money through open market operations for four trading days in a row. The PBOC will make policies more forward-looking, flexible and effective, maintain proper control over the floodgate of money supply and keep liquidity at a reasonable and abundant level, according to a quarterly report released earlier this month.