BEIJING, July 15 -- China's central bank injected liquidity into the banking system through reverse repos and medium-term lending facility (MLF) on Monday.

The People's Bank of China conducted 129 billion yuan (about 18.1 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent.

A total of 100 billion yuan was also injected into the market via the MLF, which will mature in one year at an interest rate of 2.5 percent.

The move aims to offset the impact of a tax payment peak and keep liquidity reasonable and ample in the banking system, the People's Bank of China said in a statement.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

The MLF tool 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.