BEIJING, Feb. 24 (Xinhua) -- The People's Bank of China on Tuesday announced that it will conduct a 600-billion-yuan (about 86.44 billion U.S. dollars) one-year medium-term lending facility (MLF) operation on Wednesday, aiming to maintain ample liquidity in the country's banking system.

This file photo taken on Oct. 19, 2020 shows an exterior view of the People's Bank of China in Beijing, capital of China. (File photo: Xinhua)

The central bank said the MLF operation will be carried out using a fixed-quantity, interest-rate-bidding and multiple-price-bidding method.

With a 300-billion-yuan MLF operation maturing this month, the move will result in a net injection of 300 billion yuan, marking the 12th consecutive month of expanded rollovers.

The MLF was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.