SHANGHAI - China's central bank will not drain funds from the money markets through 28-day bond repurchase agreements on Tuesday, traders said.

A total of 34 billion yuan in central bank bills are due to mature this week. The People's Bank of China (PBOC) conducted a net injection of 19 billion yuan into the banking system last week.

The People's Bank of China (PBOC) will also mop up 1 billion yuan by selling one-year bills at about 10 am (0200 GMT) on Tuesday.