China's central bank said on Tuesday it had injected 393 billion yuan into the financial system through one-year medium-term lending facility loans.

The People's Bank of China said the move is to offset a liquidity squeeze on the first working day after the Chinese New Year holiday, as some of these loans are due to mature. The People's Bank of China said interest rates for medium-term lending facility loans are unchanged at 3.25 percent. The central bank said Friday it will continue to flexibly make use of tools to keep liquidity reasonably stable during the upcoming Chinese New Year holiday.