BEIJING, Aug. 13 (Xinhua) -- China's central bank Thursday pumped cash into the banking system via reverse repos to maintain liquidity.
The People's Bank of China injected 150 billion yuan (about 21.6 billion U.S. dollars) into the market through seven-day reverse repos at an interest rate of 2.2 percent, according to a statement on the website of the central bank.
As no reverse repos matured on Thursday, the central bank injected a net 150 billion yuan into the banking system, a new high since July 17.
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.
China pursues a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report. Enditem
