China's Central Bank Injects 3-Year-High Funds
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A Chinese clerk counts RMB (renminbi) yuan banknotes at a bank in Huaibei city, east China's Anhui province, 1 December 2015. [Photo: Imagine China]

China's central bank has pumped the most money into the financial system this Tuesday since February of 2013.

The People's Bank of China has conducted 360 billion yuan, or around 55 billion U.S. dollars, worth liquidity into the system through 28-day reverse repos and 80 billion yuan through 7-day reverse repos.

The 28-day reverse repo is priced to yield at 2.6 percent.

The 7-day reverse repo is valued at a 2.3-percent return.

Maturing reverse repos will drain 190-billion yuan from the financial system this week.

Liquidity conditions often tighten before the Chinese New Year, which will begin on Lunar New Year's eve on February 7th.

In anticipation, the central bank usually injects large amounts of cash into the money market to keep interest rates steady.

Author： 　　　Source：CRI　　　 Editor：Yang Fan