China's central bank offered a total of 100 billion yuan (15.4 billion U.S. dollars) in six-month medium-term lending facility (MLF) loans at 3.25 percent to 13 financial institutions on Friday.
"The move is aimed at maintaining proper liquidity in the market," said the People's Bank of China (PBOC) in a brief online statement.
The PBOC said it will guide banks to lend the money to small businesses and the agricultural sector.
The MLF is a new liquidity tool designed for commercial and policy banks to borrow from the central bank by using securities as collateral.
Go to Forum >>0 Comment(s)