The People's Bank of China (PBC) announced a 192.3 billion yuan seven-day reverse repo deal at an interest rate of 1.50%.

China's central bank aims to maintain stable liquidity in the banking system by year-end.

Reverse repo is a tool used by central banks to manage liquidity. The PBC buys securities from commercial banks through an auction process, with an agreement to resell them in the future. In short, China's central bank seeks to inject short-term liquidity into commercial banks.

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Repo Contract Information
Contract value: 192.3 billion yuan.
Maturity: 7 days.
Interest rate: 1.50%.