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Central bank skips open market operations

The People's Bank of China, the central bank, skipped open market operations on Thursday for the fourth day after the weeklong Spring Festival holiday. After cash returning to the banking system offset maturing reverse repos, the liquidity level in the banking system remained at a relatively high level, the PBOC said on its website. A 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.

FDI rises by 4.8% to $12.4b in January