(Yicai Global) Jan. 30 -- China's central bank has  injected fresh funds into the country's financial system after suspended  such operations for the past seven working days.

The People's Bank of China conducted a 14-day  reverse repo today to the tune of CNY50 billion (USD7.4 billion) against  no maturing previous reverse repos.

The 14-day rate was offered at 2.7 percent, unchanged from the previous open market operations.

The move pushed the Shanghai Interbank Offered Rate  for shorter-term loans lower and the overnight SHIBOR was down 7.59  basis points at 2.0021 percent. The one-week term rate fell 0.10 basis  point to 2.7650 percent. The SHIBOR for one-month loans still increased  0.5 basis point to 2.8400 percent.

Open market operations are conducted for the  purpose of keeping liquidity in the banking system "reasonably ample,"  the PBOC said in a statement today. With the approaching Chinese New  Year holiday, the central bank traditionally continues adding liquidity  into the market to satisfy the increasing needs.