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PBOC injects $10b into financial system

China's central bank on Thursday injected 70 billion yuan ($10.2 billion) into the financial system through open market operations. The People's Bank of China said it offered seven-day reverse repos with an interest rate of 2.55 percent and 14-day reverse repos at 2.7 percent. Previous reverse repos worth 100 billion yuan matured on Thursday, meaning that the net market liquidity dropped by 30 billion yuan. The PBOC will make policies more forward-looking, flexible and effective, maintain proper control over money supply and keep liquidity at a reasonable and abundant level, it said.

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