(Yicai Global) July 31 -- The People's Bank of China net injected CNY20 billion (USD2.85 billion) into the financial system via open market operations today to preserve sufficient cash flows.

The central bank conducted a seven-day reverse repo of CNY20 billion at an interest rate of 2.20 percent this morning. No previous OMOs matured today.

The PBOC injected a total of CNY280 billion via OMOs into the banking system this week, against CNY160 billion previous ones maturing, thus increasing the liquidity by CNY20 billion for the week.

Editor: Ben Armour