China's central bank adds liquidity via reverse repos

BEIJING, May 23 (Xinhua) -- China's central bank conducted 2 billion yuan (about 281.3 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Thursday.

The move aims to keep liquidity reasonable and ample in the banking system, the People's Bank of China said in a statement.

A reverse repo is a process in which the central bank purchases securities from commercial banks throug