China's central bank skips reverse repos for 8th straight trading day

BEIJING - The People's Bank of China (PBOC), the country's central bank, skipped open market operations via reverse repos for the eighth consecutive trading day on Wednesday.

The banking system reports reasonable and sufficient liquidity at present, the PBOC said in an online statement.

No reverse repos matured Wednesday.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

China will pursue a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.