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China conducts 500-bln-yuan MLF operation to sustain banking liquidity

The People's Bank of China (PBOC) on Thursday carried out a 500-billion-yuan (about 73.3 billion U.S. dollars) one-year medium-term lending facility (MLF) operation, aiming to maintain adequate liquidity in the country's banking system. The central bank said this MLF operation will be conducted through variable-rate tenders with a fixed quantity, using a multiple-price auction. [...]