(MENAFN) Abundant liquidity was revealed to have struck the Chinese central bank in its banking system, forcing the bank to halt Wednesday's open market operations.
Liquidity, the People's Bank of China (PBOC) announced, was witnessed at a reasonably adequate level.
Due to the move, the market on Wednesday failed to achieve any maturity in reverse repos.
In June, the central bank of China added around USD228.2 billion of liquidity into the market.
China is determined to maintain its prudent monetary policy "neither too tight nor too loose" while reserving market liquidity at a reasonably ample level this year.