央行：2025年12月常备借贷便利（SLF）净投放71亿元

Core Viewpoint - The People's Bank of China (PBOC) has released the liquidity injection data for December 2025, indicating various monetary policy tools used to manage liquidity in the financial system [1][3]. Group 1: Liquidity Injection Overview - The PBOC utilized several tools for liquidity management, including the Standing Lending Facility (SLF), Medium-term Lending Facility (MLF), and 7-day reverse repos [1][3]. - The SLF had a total injection of 10 billion yuan, with a net injection of 7.1 billion yuan after 2.9 billion yuan was withdrawn [1][3]. - The MLF saw an injection of 400 billion yuan, with a net injection of 100 billion yuan after 300 billion yuan was withdrawn [1][3]. - The 7-day reverse repo had a significant injection of 35,361 billion yuan, resulting in a net injection of 819 billion yuan after 34,542 billion yuan was withdrawn [1][3]. Group 2: Detailed Breakdown of Monetary Tools - The following table summarizes the liquidity injection and withdrawal for various monetary policy tools: | Tool Type | Tool Name | Injection (billion yuan) | Withdrawal (billion yuan) | Net Injection (billion yuan) | | --- | --- | --- | --- | --- | | Central Bank Loans | SLF | 10 | 2.9 | 7.1 | | | MLF | 400 | 300 | 100 | | | PSL | 0 | -5.6 | -5.6 | | | Other Structural Tools | 638.9 | 479.5 | 159.4 | | Open Market Operations | 7-day Reverse Repo | 35,361 | 34,542 | 819 | | | Other Term Reverse Repo | 18,000 | 14,000 | 4,000 | | | Government Bond Transactions | 50 | 0 | 50 | | | Central Treasury Cash Management | 210 | 200 | 10 | [2][4]