The PBOC published its June 2026 liquidity operations: Standing Lending Facility
(SLF) net zero; Medium-Term Lending Facility (MLF) net injection 200 bln yuan;
Pledged Supplementary Lending (PSL) net withdrawal 50 bln yuan; 7-day reverse
repo net injection 582.6 bln yuan; open-market government bond transactions net
injection 50 bln yuan; central treasury cash-management net zero.