BEIJING, Dec. 3 (Xinhua) -- The People's Bank of China suspended open market operations on Monday, citing abundant liquidity in the banking system.

(File photo: VCG)

It is the 27th consecutive working day for the central bank to skip open market operations, a record long time span since early 2016 when the central bank announced increased frequency of open market operations.

No reverse repo will mature Monday.

A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

The central bank will maintain a prudent and neutral monetary policy, with easing or tightening only as appropriate, and make the financial sector better serve the real economy, according to a report published by the bank in early November.