The People’s Bank of China (PBoC) continued to inject CNY 10 billion into the market through seven-day reverse repo at an interest rate of 2.2 percent on December 3rd, 2020. With CNY 80 billion of reverse repos maturing on the same day, it led to a net liquidity withdrawal of CNY 70 billion. The central bank said the move intended to maintain reasonable and sufficient liquidity of the banking system.