The Central Bank may over-issue MLF this week to maintain ample liquidity.

According to reports, data shows that this week (from August 25 to 29), there will be 2.077 trillion yuan of reverse repos maturing in the open market, along with 300 billion yuan of Medium-term Lending Facility (MLF) and 900 billion yuan of term reverse repos maturing. As of August 22, the Central Bank's net injection of medium-term liquidity totaled 600 billion yuan, which is equivalent to double that of last month and represents the largest scale of net injection since February 2025. Wang Qing believes that the Central Bank may continue to inject medium-term liquidity into the market by increasing the amount of MLF.