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Central bank injects liquidity into market

China's central bank pumped 80 billion yuan ($11.29 billion) into the financial system on Tuesday, according to the bank's latest statement. The People's Bank of China injected 80 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 percent. 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.

Renminbi strengthens against greenback