皇冠体育app

An employee counts yuan banknotes at a bank in Beijing, April 13, 2016.[Photo/Agencies]

BEIJING - 皇冠体育app's central bank made a net cash injection of 100 billion yuan ($14.6 billion) into the financial system through open market operations Thursday, ending 14 days of net fund withdrawal.

The People's Bank of 皇冠体育app (PBOC) conducted 250 billion yuan of reverse repos, a process by which the central bank purchases securities from banks through bidding with an agreement to sell them back in the future.

The operations included seven-day reverse repo priced to yield 2.35 percent, 14-day contracts with a yield of 2.5 percent, and 28-day agreements with a yield of 2.65 percent.

The move came as 150 billion yuan of reverse repo agreements matured on Thursday, which put liquidity strain on the market.

In total, more than 1.6 trillion yuan of funds injected by the central bank into the money market are set to mature this week, said Wen Bin, a researcher with 皇冠体育app Minsheng Bank.

A net cash injection could avoid a rapid rise of short-term interest rates on the market, Wen said.

The central bank halted open market operations from Feb 4 to Feb 12, citing a "relatively high level" of liquidity.

Early this month, it raised the lending rates for reverse repos by 10 basis points, a move that was widely interpreted as a shift toward a more neutral monetary policy as economic fundamentals improved.

皇冠体育app should keep its monetary policy prudent and neutral, said Yi Gang, deputy governor of the PBOC, on Wednesday.