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Central bank injects funds via reverse repos

The People's Bank of China, the central bank, on Wednesday pumped 270 billion yuan ($39 billion) into the financial system through open market operations. To maintain reasonable and sufficient liquidity, the central bank conducted the operations with seven-day reverse repos at an interest rate of 2.55 percent. Net liquidity injection was 250 billion yuan on Wednesday, as previous reverse repos worth 20 billion yuan became mature. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.