The People's Bank of China will increase the variety of overnight reverse repurchase operations in the open market operations on June 29 and June 30.

The central bank announced that in order to better match the short-term liquidity needs of the banking system, the People's Bank of China will increase the variety of overnight reverse repurchase operations in the open market operations on June 29 and June 30. Overnight reverse repurchase operations will be conducted through fixed-rate, quantity-based bidding.