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PBOC skips open market operations

China's central bank suspended open market operations for the 11th consecutive working day on Thursday, citing sufficient liquidity in the banking system. The central bank has increasingly relied on open market operations for liquidity management, rather than cuts to interest rates or reserve requirement ratios. China said it will maintain a prudent and neutral monetary policy in 2018 as the world's second-largest economy strives to balance growth with risk prevention.

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