China's central bank pumps liquidity via reverse repos

BEIJING, July 4 (Xinhua) -- China's central bank conducted 2 billion yuan (280.49 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Thursday.

The move aims to keep liquidity reasonable and ample in the banking system, the central bank said.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement t