China’s central bank conducts 1.7 trillion yuan of direct reverse repo transactions in January Reuters

SHANGHAI (Reuters) – China’s central bank said on Monday it entered into direct reverse repurchase agreements worth 1.7 trillion yuan in January.

The People’s Bank of China (PBOC) said the repo operations were aimed at “keeping the liquidity of the banking system reasonably high”. The repo terms for the month were 3 and 6 months.

Separately, the PBOC said it did not buy or sell Chinese government bonds in open market operations in January.