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PBOC injects funds into money market

The People's Bank of China, China's central bank, on Thursday pumped 100 billion yuan ($14.51 billion) into the financial system through open market operations. To maintain stable liquidity in the middle of the year, the central bank conducted the operations with 28-day reverse repos at an interest rate of 2.85 percent. Net liquidity injection was 90 billion yuan on Thursday, as previous reverse repos worth 10 billion yuan matured.