多项重磅政策来袭！央行降准0.5%，降低政策利率0.1%

Group 1 - The People's Bank of China (PBOC) announced a 0.5 percentage point reduction in the reserve requirement ratio, expected to provide approximately 1 trillion yuan in long-term liquidity to the market [2] - The last reserve requirement ratio cut occurred on September 27, 2024, when the PBOC also lowered the ratio by 0.5 percentage points, resulting in an average reserve requirement ratio of about 6.6% [2] - The recent cut aligns with market expectations, as discussions of "timely cuts in reserve requirement and interest rates" were mentioned in the Central Political Bureau meeting on April 25 [3] Group 2 - In addition to the reserve requirement cut, the PBOC also lowered the policy interest rate by 0.1 percentage points, with the 7-day reverse repurchase rate decreasing from 1.5% to 1.4%, which is expected to lead to a similar decline in the Loan Prime Rate (LPR) [4] - The PBOC increased the quota for re-lending for technological innovation and transformation by 300 billion yuan, raising it from 500 billion yuan to 800 billion yuan [4] - A new 500 billion yuan re-lending facility for service consumption and elderly care was established to encourage banks to increase credit support in these areas [4] Group 3 - The China Securities Regulatory Commission (CSRC) emphasized its commitment to stabilizing the market and enhancing responses to external risks, supporting the Central Huijin Investment Ltd. in its role akin to a "stabilization fund" [5] - Following the announcement of these policies, the A-share market showed significant activity, with major indices opening higher and sectors such as finance and real estate leading the gains [5]