China's central bank injects liquidity into market

BEIJING -- China's central bank Monday conducted 100 billion yuan ($15.5 billion) of reverse repos to maintain liquidity in the banking system.

The interest rate for the 14-day reverse repos was set at 2.35 percent, according to the People's Bank of China.

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.