(Yicai Global) Jan. 17 -- China's central bank, the People' Bank of China infused CNY380 billion (USD56.21 billion) into the interbank market via an open market operation today. 

PBOC conducted CNY250 billion in seven-day reverse repurchases and CNY150 billion of 28-day reverse repos. A further CNY20 billion worth of reverse repos will mature today.

A reverse repurchase agreement is the buying of securities to sell them at a higher price at a specific future date to release short-term capital.

To ensure the availability of cash in the runup to the Spring Festival or Lunar New Year holiday, PBOC has decanted liquidity into the market for the fourth straight working day this week, with cumulative cash inflows topping CNY1 trillion thus far.

Editor: Ben Armour