File Photo: Agencies.

BEIJING, Nov. 20 (Xinhua) -- China's central bank injected liquidity into the banking system through open market operations on Friday.

The People's Bank of China injected 80 billion yuan (about 12 billion U.S. dollars) into the market through seven-day reverse repos at an interest rate of 2.2 percent, according to a statement on its website.

With 160 billion yuan of reverse repos maturing on the same day, this led to a net liquidity withdrawal of 80 billion yuan from the market.

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 pursues a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.