The Chinese central bank has been executing "Zero Operation" for three consecutive weeks. In fact, the central bank still remains silent in the open market and led to the release of160 billion of liquidity into the market on 16th July. Basically, "Zero Operation" means the central bank is slightly easing the monetary policy and reflecting that the monetary regulators have the strong will to maintain financial stability. It also proves that the central bank is cautious in issuing large amount of currency into the market.