The People's Bank of China (PBOC) has conducted a series of liquidity injections through 7-day reverse repo operations at a steady interest rate of 1.40% over recent days. On August 21, the PBOC injected 253 billion yuan, followed by 361.2 billion yuan on August 22, and 288.4 billion yuan on August 25. These operations resulted in net injections of 124.3 billion yuan, 123.2 billion yuan, and 21.9 billion yuan respectively, contributing to a weekly total liquidity addition of 1.37 trillion yuan, the largest since January. In addition to short-term liquidity measures, the PBOC has increased longer-term funding support amid bond market pressures and economic challenges by issuing 30 billion yuan of three-month yuan bills in Hong Kong at an interest rate of 1.60%, in cooperation with the Hong Kong Monetary Authority (HKMA). Furthermore, the central bank added a net 600 billion yuan this month via one-year medium-term lending facilities and outright reverse repos, marking the highest monthly injection since January. These steps appear aimed at stabilizing the bond market selloff and ensuring sufficient funding for the Chinese economy.