China central bank conducts money injection

China's central bank pumped money into the markets through reverse repurchase agreements on Thursday to ease liquidity after last week's national holiday, the official Xinhua News Agency reported.
The People's Bank of China injected CNY 38 billion (USD 6.2 billion) into the markets through 14-day reverse repurchase agreements, a process in which central banks purchase securities from banks with an agreement to resell them at a future date.
The reverse repurchase agreements was priced to yield 4.1 percent. The injection aims to ease the condition of tightened liquidity as a series of other operations made before the Spring Festival holiday are due this week.
The central bank suspended open market operations on Feb. 17 because of the Chinese Lunar New Year holiday, which started Feb. 18.
China's economic growth grew 7.4 percent in 2014, slower than the 7.7 percent in 2013 and the weakest annual expansion since 1990, when it recorded the 3.8 percent growth.