(Yicai Global) Oct. 8 -- The People's Bank of China skipped open market operations today, effectively withdrawing CNY250 billion (USD35 billion) worth of liquidity from the monetary system due to previous reverse repos maturing today.

Liquidity in China's banking system is already at a high level, the central bank said in a press briefing explaining the decision. It did not conduct any OMOs on China's previous two trading days, Sept 29 and Sept. 30, ahead of the week-long National Day holiday.