PBOC data for June showed a net injection of 10 bln yuan via open‑market government bond transactions, bringing cumulative H1 net injections to 300 bln yuan. June operations also included a 200 bln yuan net MLF injection and a 137.2 bln yuan net with

2026-07-03

PBOC data for June showed a net injection of 10 bln yuan via open‑market government bond transactions, bringing cumulative H1 net injections to 300 bln yuan. June operations also included a 200 bln yuan net MLF injection and a 137.2 bln yuan net withdrawal via other structural liquidity tools. Short‑term liquidity provision comprised 7‑day reverse repo net injections of 582.6 bln yuan and other‑tenor reverse repo net injections of 300 bln yuan. The PBOC’s Q1 monetary policy execution report said it routinely conducts government bonds buy/sell operations and will flexibly adjust scale according to base‑money needs and bond‑market conditions.