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China to conduct 500-bln-yuan MLF operation on Wednesday

The People's Bank of China on Tuesday announced that it will carry out a 500-billion-yuan (about 72.52 billion U.S. dollars) one-year medium-term lending facility (MLF) operation on Wednesday, aiming to maintain adequate liquidity in the country's banking system. The central bank said this MLF will be conducted through variable-rate tenders with a fixed quantity, using a multiple-price auction. [...]