China's central bank on Wednesday 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 499 billion yuan (about 73.19 billion U.S. dollars) into the market through one-year MLF with an interest rate of 2.75 percent.
The central bank also conducted 203 billion yuan of seven-day reverse repos at an interest rate of 2 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.
