The central bank conducted a net injection of 100 billion yuan in trading government bonds in the open market in January.

The central bank announced the liquidity injection situation of various tools in January 2026, in terms of central bank loans, standing lending facility saw a net withdrawal of 7.9 billion yuan; medium-term lending facility had a net injection of 700 billion yuan, and supplementary loans with collateral had a net injection of 174.4 billion yuan; in terms of open market operations, 7-day reverse repurchase had a net injection of 167.8 billion yuan, and net injection of 100 billion yuan for buying and selling government bonds; Central Treasury cash management had a net withdrawal of 60 billion yuan.