(Yicai Global) May 29 -- China's central bank continued to inject cash into the country's monetary system via open market operations today as this week's total reached CNY670 billion (USD93.7 billion) after a 37-day hiatus.

The People's Bank of China conducted CNY300 billion worth of seven-day reverse repurchase agreements at an unchanged rate of 2.20 percent. No such money-market instruments expire today.

The move aims to offset the impact of several factors, including government bond issuance and corporate income tax settlements, while keeping the banking system's liquidity at a sufficient level, said the PBOC.

Editor: Emmi Laine