7000亿元！明作

Group 1 - The People's Bank of China (PBOC) will conduct a 700 billion yuan reverse repurchase operation on August 8, 2025, to maintain liquidity in the banking system [1] - The operation will have a term of 3 months (91 days) and is part of a broader strategy to ensure sufficient liquidity amid high government bond issuance [2] - Analysts expect that the total operation amount for August will exceed the 900 billion yuan of maturing reverse repos, indicating potential further liquidity injections [1][2] Group 2 - In July 2025, the PBOC conducted 1.4 trillion yuan in reverse repos, resulting in a net liquidity injection of 200 billion yuan [3] - The cumulative issuance of reverse repos reached 11.3 trillion yuan by the end of July, with 4.8 trillion yuan remaining outstanding [3] - The introduction of the buyout reverse repo tool is seen as a significant enhancement to China's monetary policy toolkit, potentially reducing the reliance on Medium-term Lending Facility (MLF) for liquidity management [3]