The Bank of China has provided short-term loans totaling 700 billion yuan (approximately 98.5 billion dollars) within five days.
These operations are part of the bank's efforts to improve liquidity in financial markets and support the economy in conditions when the country is facing challenges due to the pandemic.
"The Bank of China conducts medium-term lending operations to provide additional support to banks and contribute to the stability of the financial sector," reported the central bank.
This measure aims to ensure that financial institutions have the funds necessary to provide credits to the real sector of the economy.
"Conducting such operations helps maintain the stability of the financial system and ensure its normal functioning," stated the bank's representative.
