China's central bank to conduct 500-bln-yuan MLF operation to sustain banking liquidity

(ECNS) -- China's central bank, the People's Bank of China (PBOC), on Thursday announced that it will carry out a 500-billion-yuan (about $73.6 billion) one-year medium-term lending facility (MLF) operation on Friday, aiming to maintain ample liquidity in the country's banking system.

The PBOC said this MLF operation will be conducted through variable-rate tenders with a fixed quantity, using a multiple-price auction.

With a 400-billion-yuan MLF maturing this month, the move will see a net injection of 100 billion yuan, according to the central bank.