BEIJING - The People's Bank of China (PBOC), the central bank, announced on Monday it had pumped more than 1.5 trillion yuan ($229 billion) into the market via MLF, SLF and PSL operations in January.

The PBOC said it injected 520.9 billion yuan through the standing lending facility (SLF) to ensure "stability in the currency market." A liquidity strain is usually expected before the upcoming Chinese New Year, which will fall on Feb 8.

The central bank said it injected 862.5 billion yuan through medium-term lending facilities (MLF) to encourage financial institutions to support small and medium-sized enterprises and rural areas.

The PBOC also injected 143.5 billion yuan through pledged supplementary lending (PSL) to China Development Bank, Agricultural Bank of China and the Export-Import Bank of China, to support projects such as shantytown renovation and major water conservation projects.