China c.bank injects ¥2b liquidity via reverse repos

People’s Bank of China has on Thursday conducted 2 billion yuan (280.49 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent.
The move is designed to keep liquidity reasonable and ample in the banking system, the Chinese central bank stated.
A reverse repo is a process whereby the central bank purchases securities from commercial banks via bidding, with an agreement to sell them back in the future.
Attribution: Xinhua