China's central bank said Tuesday that injecting more than 600,000 yuan (91.220 billion dollars) to help alleviate the lack of liquidity provided before the Lunar New Year, which is celebrated at the beginning of February.
The People's Bank of China will add funds through its three policy tools or lines of credit called SLF, MLF and PSL for its acronym in English, it said in its website.
The company promised to maintain a "reasonable and adequate" liquidity in the banking system and maintain stable interest rates in the market, as volatility increases before the Lunar New Year.
"The turbulence in the international financial market is intensifying volatility and liquidity in the banking system is increasing," the central bank said.
In addition, the company will provide short-term cash to financial institutions through bond repurchase agreements in its open market operations.