(Yicai Global) Aug. 22 -- The People's Bank of China net injected CNY30 billion (USD4.2 billion) into the nation's financial system via open market operations today, after three consecutive days of withdrawals.

The central bank conducted a seven-day reverse repo worth CNY60 billion at an interest rate of 2.55 percent, while CNY30 billion worth of the same instrument expired today.

The bank said in a statement that the main purpose of the liquidity injection is to offset the cash requirements from the issuance of government bonds. 

Editor: James Boynton