(Yicai Global) Jan. 8 -- The People's Bank of China chose not to conduct any open market operations for the 11th consecutive trading day today, citing abundant liquidity in the banking system.

No reverse repos mature today, meaning the decision keeps market liquidity balanced. The last time the central bank conducted a reverse repo was Dec. 23, since when it has reiterated that liquidity is already at a high level.

PBOC did cut the reserve requirement ratio for commercial banks on Jan. 6, effectively freeing up CNY800 billion (USD115 billion) in funds to support the economy.