Xin Hua Cai Jing·2025-11-11 10:13Core Insights - Qingdao Rural Commercial Bank and Qingdao Bank have successfully obtained clearing member qualifications from the Shanghai Clearing House and launched general repurchase business, marking a significant breakthrough for Shandong's financial institutions in the interbank market clearing mechanism [1] - The launch of this innovative business fills a market gap for city commercial banks and rural commercial banks in Shandong province, providing practical experience for local financial institutions to enhance fund operation efficiency and risk management capabilities [1] - The People's Bank of China has approved the general repurchase business, which will officially launch in April 2024, allowing participants to submit bonds to a collateral pool and conduct repurchase transactions through the interbank lending center [1] Summary by Sections - Business Development - The general repurchase business has been introduced to enhance the operational efficiency of financial institutions in Shandong [1] - A total of 17 transactions have been conducted by local financial institutions, amounting to 12.08 billion yuan [2] - Market Impact - The business aims to reduce counterparty risk and improve market liquidity while supporting the smooth transmission of monetary policy [1] - The Shanghai Clearing House has expanded the range of participants in the general repurchase business to include deposit-taking financial institutions and added new categories of eligible collateral [1]