The People's Bank of China (PBOC), China's central bank, on Wednesday conducted a 300-billion-yuan one-year (about 41.1 billion U.S. dollars) medium-term lending facility (MLF) operation.
The MLF operation features an interest rate of two percent, unchanged from the previous operation conducted last month, according to a statement on the PBOC's website. After the latest operation, the outstanding MLF balance stood at 5,089 billion yuan.
Some 1.45 trillion yuan of MLF funds matured on 16th this month.
This operation demonstrates abundant liquidity in the market and sufficient funds available.
Since the beginning of this year, the central bank has introduced additional liquidity tools, including treasury bond borrowing operations and outright reverse repos in the open market, ensuring ample liquidity.
These new tools have allowed the PBOC to replace expired MLFs, reducing capital costs and alleviating pressure on banks' net interest margins.
The MLF operation is more market-driven within the framework of the new monetary policy. From the second half of this year, the PBOC has conducted MLF operations through market-based interest rate bidding, using interbank negotiable certificates of deposit from bidding agencies as a reference. As a result, the MLF winning interest rate no longer has policy implications.
China conducts 300-billion-yuan MLF operation
A total of 33 Chinese nationals who had been working in Iran arrived safely in Urumqi, the capital of the Xinjiang Uygur Autonomous Region, on Wednesday, after Chinese authorities helped to evacuate them from the war-torn country.
After the regional crisis was sparked by joint U.S. and Israeli military strikes on Iran on Feb. 28, Chinese authorities have been working to assist nationals stranded overseas amid the worsening situation in the Middle East.
Following extensive coordination by Chinese diplomatic missions, the evacuees were rerouted on a China Southern Airlines flight from Azerbaijan back to China.
Upon arrival, the Urumqi Immigration Inspection Station activated a dedicated "green channel" to ensure their fast and efficient clearance, easing their journey home after their traumatic experience.
"At first, I was really anxious. With the help of the embassy staff, we all made it back home safely. I feel truly relieved and happy," said Tian Heguo, one of the Chinese evacuees.
"We aim to show our care through thoughtful service, streamlining the inspection process, and easing anxieties with patient and calm communication. Our goal is to make every returnee feel the warmth and comfort of home the moment they set foot on Chinese soil," said Zhao Zijing, a captain for the Third Duty Team at the Urumqi Immigration Inspection Station.
Over 30 Chinese nationals evacuated from Iran arrive in Urumqi
