The People's Bank of China (PBOC) announced that to maintain ample liquidity in the banking system, it will conduct RMB 1.4 trillion in outright reverse repurchase operations on July 15, 2026, using a fixed-quantity, interest rate bidding method with multiple price levels. The operations will have a term of 6 months (184 days) and will mature on January 15, 2027 (postponed if it falls on a holiday).