BEIJING — China's central bank pumped 20 billion yuan (about $2.8 billion) into the financial system on Sept 25.

The People's Bank of China injected the liquidity through 14-day reverse repos at an interest rate of 2.7 percent, unchanged from previous operations.

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.

China will keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019.