The People's Bank of China added more cash into the financial system to maintain sufficient liquidity.
The PBoC injected CNY 499 billion into the financial system via one-year medium-term lending facility, the bank said on Wednesday. The rate on one-year MLF was kept unchanged at 2.75 percent.
The central bank also conducted CNY 203 billion of seven-day reverse repo operation at a rate of 2.0 percent.
Data released last week showed that banks extended a record level of loans at the start of the year after the relaxation of pandemic related restrictions boosted demand for credit from the corporate sector. Banks extended CNY 4.9 trillion in new yuan loans in January.
