Liquidity Injections Via MLF in China decreased to 500 CNY Billion in March from 900 CNY Billion in January of 2026. Liquidity Injections Via MLF in China averaged 414.98 CNY Billion from 2014 until 2026, reaching an all time high of 1450.00 CNY Billion in November of 2023 and a record low of 0.00 CNY Billion in May of 2015.



Related Last Previous Unit Reference
14-Day Reverse Repo Rate 1.65 1.65 percent Feb 2026
Bank Lending Rate 4.35 4.35 percent Apr 2026
Liquidity Injections Via MLF 500.00 900.00 CNY Billion Mar 2026
Liquidity Injections Via Reverse Repo 500.00 500.00 CNY Billion Apr 2026
7-Day Reverse Repo Rate 1.40 1.40 percent Mar 2026


China Liquidity Injections Via MLF
Liquidity Injections Via Medium-term lending facility (MLF) in China, refer to the amount The People's Bank of China lends every month to big commercial banks to boost financial system liquidity.
Actual Previous Highest Lowest Dates Unit Frequency
500.00 900.00 1450.00 0.00 2014 - 2026 CNY Billion Monthly
Current Prices, NSA

News Stream
PBOC Injects CNY 700 Billion Net Liquidity Through MLF
The People’s Bank of China (PBoC) injected CNY 900 billion (USD 128.54 billion) into financial institutions on January 23 through its one-year Medium-Term Lending Facility (MLF), aiming to maintain ample liquidity in the banking system. With CNY 200 billion in MLF funds maturing this month, the operation resulted in a net liquidity injection of CNY 700 billion, marking the eleventh consecutive month of net MLF injections. The central bank conducted the operation using a fixed-quantity, interest-rate bidding and multiple-price bidding method. This month’s net injection was higher than December’s injection of CNY 100 billion. The MLF was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.
2026-01-23
China to Conduct CNY 1 Trillion MLF Operation Today
The People’s Bank of China (PBoC) injected CNY 1 trillion (USD 141.15 billion) into financial institutions on November 25 through its one-year Medium-Term Lending Facility (MLF), aiming to maintain ample liquidity in the banking system. With CNY 900 billion in MLF funds maturing this month, the operation resulted in a net liquidity injection of CNY 100 billion, marking the ninth consecutive month of net MLF injections. The central bank conducted the operation using a fixed-quantity, interest-rate bidding, and multiple-price bidding method. This month’s net injection was lower than the CNY 200 billion recorded in October. The MLF was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.
2025-11-25
PBoC Injects CNY 900 Billion of MLF into Banking System
The People’s Bank of China (PBoC) injected a total of CNY 900 billion into financial institutions on October 27 through its one-year Medium-Term Lending Facility (MLF), aiming to maintain ample liquidity in the banking system. With CNY 700 billion in MLF funds maturing this month, the operation resulted in a net liquidity injection of CNY 200 billion — marking the eighth consecutive month of net MLF injections. The central bank conducted the operation using a fixed-quantity, interest-rate bidding, and multiple-price bidding method. This month’s net injection was lower than the CNY 300 billion recorded in September. At the same time, the PBoC conducted CNY 1.7 trillion in outright reverse repos in October, offsetting CNY 1.3 trillion in maturing operations and resulting in a net injection of CNY 400 billion. Overall, the central bank’s net medium-term liquidity injection for the month will reach CNY 600 billion, matching the level in September.
2025-10-27