China's central bank injects more liquidity in May

BEIJING - The People's Bank of China (PBOC), the central bank, announced on Wednesday that it had pumped more money into the market via targeted measures in May to add liquidity.

The central bank said it injected 570 million yuan ($86.5 million) through standing lending facility (SLF) to ensure "provisional liquidity demand from financial institutions."

The PBOC also injected 108.8 billion yuan through pledged supplementary lending (PSL) to China Development Bank, Agricultural Development Bank of China and the Export-Import Bank of China, to support projects such as substandard housing renovation and major water conservation projects.