Xin Hua Cai Jing·2025-12-31 13:24Group 1 - The People's Bank of China conducted a 7-day reverse repurchase operation of 528.8 billion yuan on December 31, resulting in a net injection of 502.8 billion yuan after 26 billion yuan of reverse repos matured on the same day [1] - For the week, the People's Bank of China executed a total of 1.322 trillion yuan in reverse repos, with 152.6 billion yuan maturing, leading to a weekly net injection of 1.171 trillion yuan, the highest in two months [1] - The Shanghai Interbank Offered Rate (Shibor) for short-term maturities rose across the board, with the 7-day Shibor increasing by over 36 basis points, resulting in an inversion with the 14-day Shibor [1][5] Group 2 - The overnight Shibor rose by 8.00 basis points to 1.3270%, while the 7-day Shibor increased by 36.70 basis points to 1.9560%, and the 14-day Shibor rose by 8.20 basis points to 1.9510% [3][5] - In the interbank pledged repo market, all varieties saw an increase, with the weighted average rate for DR001 rising by 9.27 basis points to 1.3322%, DR007 up by 29.48 basis points to 1.9822%, and DR014 up by 3.63 basis points to 1.93% [5][7] Group 3 - On the last trading day of the year, the overall funding situation transitioned from balanced to loose, with significant price differentiation observed in the 4-day and 5-day funding rates due to non-bank adjustments [9] - The 5-day repo rates saw a rapid decline from 2.30% to around 2.00%, and further down to 1.70%, while overnight repo rates fell to 1.25% [9] - As of December 31, two interbank certificates of deposit were issued, with an actual issuance amount of 170 million yuan [9]