BEIJING: China's central bank conducted a significant medium-term lending facility (MLF) operation on Friday, injecting 700 billion yuan, approximately $98.5 billion, into the banking system. This move aims to maintain reasonable and ample liquidity within the country's financial sector. According to Emirates News Agency, the MLF operation has a one-year maturity period and carries an interest rate of 2 percent, which remains unchanged from the rate of the previous operation conducted last month. This consistent interest rate is part of the central bank's efforts to stabilize the financial environment amid global economic fluctuations. Following this operation, the outstanding balance of the MLF reached 6.789 trillion yuan. The MLF mechanism is a crucial tool used by China's central bank to provide financial institutions with stable funding support, ensuring that liquidity remains sufficient to meet economic demands.