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The People's Bank of China in Beijing, China, December 1, 2022. /CFP
China's central bank on Thursday added liquidity to the banking system via operations of medium-term lending facility (MLF) and reverse repos.
The People's Bank of China (PBOC) injected 650 billion yuan ($93.7 billion) into the market through one-year MLF with an interest rate of 2.75 percent.
With 500-billion-yuan MLF maturing this month, PBOC's operation resulted in injecting 150 billion yuan of medium-term liquidity on a net basis from the banking system on the day.
The central bank also conducted seven-day reverse repos worth two billion yuan at an interest rate of two percent.
The move aims to maintain reasonable and sufficient liquidity in the banking system, the central bank said.
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.
(Source: Xinhua with edits)
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