(Yicai Global) Jan. 16 -- The People's Bank of China net injected another CNY300 billion (USD43.5 billion) into the banking system via open market operations today after adding CNY400 billion in liquidity yesterday.

The central bank conducted a 14-day reverse repo to the tune of CNY300 billion at 2.65 percent interest rate, while no previous OMOs are due to mature today. 

The CNY400 million PBOC injected yesterday was its first OMO after 15 days of inaction, saying there was ample liquidity in the financial system. Demand for cash is expected to surge ahead of the week-long Chinese New Year holiday, which kicks off next week.

Editor: James Boynton