The central bank's net injection of 100 billion yuan through open market government bond purchases in January

The official website of the People’s Bank of China announced today the liquidity injection of various central bank tools in January 2026. Data shows that in January, medium-term lending facility (MLF) net injections amounted to 700 billion yuan, standing lending facility (SLF) net injections were -79 billion yuan, and other structural monetary policy tools net injections totaled 641 billion yuan. Meanwhile, in terms of open market operations, in January, net injections from open market government bond buy-sell operations were 100 billion yuan, 7-day reverse repurchase net injections were 167.8 billion yuan, central treasury cash management net injections were -60 billion yuan, and other term reverse repurchase net injections were 100 billion yuan.

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