This undated photo shows the People's Bank of China. (PHOTO / SIPA)

BEIJING - China's central bank on Thursday injected 100 billion yuan (about 15.7 billion US dollars) into the financial system via reverse repos.

The interest rate for the seven-day reverse repos was set at 2.2 percent, according to the People's Bank of China.

The move aims to maintain stable year-end liquidity in the banking system, the central bank said.

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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.