BEIJING, July 3 -- The People's Bank of China, the country's central bank, announced on Friday that it will conduct a 1-trillion-yuan (about 146.96 billion U.S. dollars) outright reverse repo operation on July 6 to maintain ample liquidity in the banking system.

With a fixed quantity, the operation will be carried out through interest-rate bidding, with winning bids determined at various price levels. It will have a tenor of three months, or 91 days, with a maturity date of Oct. 5, according to the central bank.

Outright reverse repo operations -- a tool the central bank introduced in October 2024 to manage liquidity in the national banking system -- are conducted each month with a tenor of no more than one year.

These operations have enriched the country's monetary policy toolkit, complementing previous measures such as temporary repos, temporary reverse repos, and the purchase and sale of treasury bonds.