For the fourth day in a row, the Central Bank of China achieved net investment in reverse repurchases in the opening market, with a net investment of 60 billion yuan today.

The Central Bank of China carried out a 7-day reverse repurchase operation of 50 billion yuan and a 14-day reverse repurchase operation of 30 billion yuan today. A reverse repurchase of 20 billion yuan will expire today.

The total net investment this week was 560 billion yuan, the largest net investment since mid-January.

The China Financial Times, which is managed by the central bank, said in an article yesterday that recently the central bank has been carrying out operations centered on “maintaining basic stability in liquidity”. Through the flexible use of various open market tools to “cut peaks and fill valleys”, it has maintained that market capital is “not loose or tight.” All major investment institutions believe that the word “stable” is still the core of the central bank's future monetary policy.

MLFs of 128 billion yuan and 227.5 billion yuan expired on Tuesday and Wednesday respectively. The central bank already renewed the 498 billion yuan MLF last Friday, hedging the total amount of 439.5 billion yuan due this month at once.