China's central bank conducts reverse repos Thursday

BEIJING - China's central bank conducted 150 billion yuan ($21.2 billion) of seven-day reverse repos at an interest rate of 1.5 percent Thursday.

The move aims to keep liquidity in the banking system reasonable and ample, the central bank said.

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.