(Yicai Global) May 27 -- China's central bank continued injecting money into the country's financial system today after a long hiatus that ended yesterday.

The People's Bank of China conducted CNY120 billion (USD16.8 billion) worth of reverse repurchase agreements with a maturity of seven days and an unchanged rate of 2.20 percent. No such money-market instruments expire today.

The move is to "balance the effect of government debt issuing" to keep the banking system's liquidity at a "reasonably ample" level, said the PBOC.

Yesterday, the PBOC carried out CNY10 billion worth of reverse repos, breaking a 37-day silence.

Editor: Emmi Laine