According to the central bank’s announcement on its open market outright reverse repo tender, on March 16, 2026, the People’s Bank of China will conduct 500 billion yuan of outright reverse repo operations with a tenor of six months (182 days) through a fixed-quantity, interest-rate tender and multiple-price allotment method.

[Central Bank to Conduct 500 Billion Yuan in Outright Reverse Repo Operations Today] The People's Bank of China announced that it would conduct 500 billion yuan in six-month (182-day) outright reverse repo operations today (March 16) through fixed-quantity, interest-rate tendering and multiple-price bidding. As 600 billion yuan of six-month outright reverse repo operations mature in March, this operation meant the central bank rolled over 100 billion yuan less in six-month outright reverse repo operations for the month.

To maintain ample liquidity in the banking system, on February 25, 2026, the People's Bank of China will conduct a 600 billion yuan MLF operation via fixed quantity, interest rate tender, and multiple-price winning method, with a maturity of one year.

PBOC Increased Gold Holdings for Six Consecutive Months. According to the central bank, China's gold reserves at the end of April stood at 73.77 million ounces, up 70,000 ounces MoM, marking the sixth consecutive month of gold holdings increase.

[PBOC Achieves Net Injection of 90 Billion Yuan in Open Market Operations] The People's Bank of China (PBOC) conducted 7-day reverse repo operations worth 154.5 billion yuan today, with a bidding volume of 154.5 billion yuan and a winning bid volume of 154.5 billion yuan. The operating interest rate was 1.40%, unchanged from the previous rate. As 64.5 billion yuan of 7-day reverse repos matured today, the PBOC achieved a net injection of 90 billion yuan on the day.

[PBOC Net Drains 103.5 Billion Yuan via Open Market Operations] Cailian Press, May 14 - The People's Bank of China (PBOC) conducted reverse repo operations worth 92 billion yuan for a 7-day term today, with an operating interest rate of 1.40%, unchanged from the previous rate. As reverse repo operations worth 195.5 billion yuan for a 7-day term matured today, the PBOC achieved a net drain of 103.5 billion yuan.

Pan Gongsheng, Governor of the People's Bank of China (PBOC), and Christine Lagarde, President of the European Central Bank (ECB), held the first annual meeting between the Governors of the PBOC and the ECB. Both sides signed the Memorandum of Understanding on Cooperation between the People's Bank of China and the European Central Bank, which clearly establishes an annual meeting mechanism between the Governors of the PBOC and the ECB, and further improves the cooperation framework in areas such as information sharing, policy communication, and technical cooperation.

[The People's Bank of China to Create New Structural Monetary Policy Tools] Zou Lan, Deputy Governor of the People's Bank of China (PBOC), stated at a press conference held by the State Council Information Office on April 28 that the PBOC will fully utilize a moderately accommodative monetary policy. Based on domestic and overseas economic conditions and the performance of financial markets, the PBOC will implement RRR cuts and interest rate cuts in a timely manner to maintain ample liquidity. It will create new structural monetary policy tools, precisely intensify efforts in key areas focused on stabilizing employment and promoting growth, and provide robust financial support. The PBOC is exploring ways to enrich its policy toolkit and will introduce incremental policies in due course to support stable employment, enterprises, markets, and expectations, effectively consolidating the fundamentals of economic development and social stability.

[PBOC Net Drains 103.5 Billion Yuan via Open Market Operations] The People's Bank of China (PBOC) conducted reverse repo operations worth 92 billion yuan for a 7-day term today, with an operating interest rate of 1.40%, unchanged from the previous rate. As reverse repo operations worth 195.5 billion yuan for a 7-day term matured today, the PBOC achieved a net drain of 103.5 billion yuan.

[PBOC Net Injects 91 Billion Yuan via Open Market Operations] The People's Bank of China (PBOC) conducted reverse repo operations worth 448 billion yuan for a 7-day term today, with an operating interest rate of 1.40%, unchanged from the previous rate. As reverse repo operations worth 357 billion yuan matured today, the PBOC achieved a net injection of 91 billion yuan.