(Yicai Global) Nov. 2 -- The People's Bank of China maintained the banking system's liquidity balanced today by replacing CNY50 billion (USD7.5 billion) worth of reverse repos via open market operations.

The seven-day lending instruments carry a 2.2 percent interest rate.

The purpose of the operation is to keep the liquidity of the financial system "reasonably ample," the regulator reiterated in a statement today. Last week, the central bank conducted CNY190 billion (USD28.4 billion) worth of reverse repos.

Editor: Emmi Laine