China's central bank provides year-end liquidity injection

BEIJING, Dec. 30 (Xinhua) -- China's central bank has stepped up open-market operations, in order to maintain liquidity in the banking system during the closing stages of 2022.

The People's Bank of China has injected liquidity totaling 1.728 trillion yuan (about 248.1 billion U.S. dollars) -- via reverse repo in the past two weeks.

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.

The PBOC said it will also strengthen the business continuity guarantee of important financial infrastructure, and improve targeted work in payment and settlement, cash supply, and protection of the rights and interests of financial consumption, in the near future.