SHANGHAI - China's central bank will drain 10 billion yuan ($1.5 billion) from the money markets through 91-day bond repurchase agreements and 97 billion yuan through 28-day bond repurchase agreements on Thursday, Reuters reported, citing the traders.

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According to the report, it means that the central bank will inject a net 28 billion yuan into the market this week.

Last week, the People's Bank of China (PBOC) conducted a net drain of 153 billion yuan from the market. PBOC will mop up 76 billion yuan by selling three-month and one-year bills on Thursday, the report said.