Central Bank of China Injects Nearly $29.28 Billion via Reverse Repos

China's central bank announced it will conduct seven-day reverse repos worth 210 billion yuan (about $29.5 billion) at an interest rate of 1.7 percent.The move aims to maintain reasonable and ample liquidity in the banking system, Xinhua news agency reported, citing a statement from the bank.Reverse repos are operations in which the central bank buys securities from commercial banks through bidding, with an agreement to resell it to them in the future.Source: Qatar News Agency