降息降准正式落地，为何选在这个时候？跟中美经贸谈判有何关系？

Core Viewpoint - The article discusses the implications of China's decision to lower interest rates and reserve requirements ahead of the U.S. Federal Reserve, highlighting the need to stimulate liquidity in the market and the potential impact on global capital flows [1][3][4]. Group 1: Economic Context - China's early interest rate cuts are primarily driven by insufficient market liquidity and signs of deflation, necessitating the release of liquidity [4]. - The increase in bank deposits, with over 9 trillion yuan added in the first quarter, indicates that a significant amount of capital is not circulating in the market, leading to a widening gap between M1 and M2 [4]. - The rising U.S. Treasury yields and declining Chinese bond yields suggest a potential widening of the interest rate differential between China and the U.S. following the rate cuts [4]. Group 2: Market Reactions - The performance of the Hong Kong stock market has been notably strong, with the Hang Seng Index rising over 20% this year, reflecting the positive impact of China's policy measures and the influx of global capital [6]. - The shift in investor focus from risk-free assets to riskier assets indicates a growing confidence in the potential for economic recovery in China, which could attract more global investment [6]. Group 3: Strategic Implications - The upcoming high-level economic dialogue between China and the U.S. is crucial, as it may address tariff issues that have strained relations since the trade war began [3]. - The proactive approach of China in adjusting monetary policy, rather than waiting for the U.S. to act, signifies a strategic shift aimed at enhancing economic growth and attracting foreign investment [6].