BEIJING - The People's Bank of China, the country's central bank, on Monday said that it conducted outright reverse repos worth 800 billion yuan ($111.45 billion) in March to maintain ample liquidity in the banking system.

In March, the central bank conducted three-month reverse repos totaling 500 billion yuan and six-month reverse repos totaling 300 billion yuan, it said in a statement.

Outright reverse repos -- a tool the central bank introduced in October 2024 to manage liquidity in the banking system -- are carried out once each month with a tenor of no more than one year.

The new tool has enriched the country's monetary policy toolkit following the introduction of temporary repos, temporary reverse repos, and the buying and selling of treasury bonds.