金融市场流动性与监管动态周报：人民币跨境支付系统再获政策支持-20250422

Group 1 - The report highlights the recent policy support from four departments to enhance the functionality and coverage of the Cross-Border Interbank Payment System (CIPS), which is significant for the internationalization of the Renminbi [2][10][11] - CIPS reduces reliance on SWIFT for cross-border clearing, improving the efficiency of Renminbi transactions globally and expanding its usage [5][11][21] - As of March 2025, CIPS has 170 direct participants and 1497 indirect participants, significantly involving institutions from countries along the Belt and Road Initiative, thus promoting trade and expanding the Renminbi's usage [16][18] Group 2 - The report indicates that the central bank conducted a net injection of 233.8 billion Yuan in the open market, with a total of 808 billion Yuan in reverse repos maturing in the upcoming week [24][25] - The report notes a decrease in the issuance of public funds and a net outflow of financing funds amounting to 55.5 billion Yuan, while ETF inflows reached 368.2 billion Yuan [36][41] - The market sentiment improved with a decrease in the VIX index, indicating a recovery in risk appetite among investors [47][51] Group 3 - The report identifies a preference for sectors such as electronics, banking, and biomedicine, which saw significant net inflows of funds [55][57] - The highest net inflows in ETFs were recorded in the banking and electronics sectors, with respective inflows of 50.7 billion Yuan and 49.2 billion Yuan [56][61] - The report also highlights that the net outflow of financing funds was concentrated in sectors like computing and non-bank financials, indicating a shift in investor preferences [57][61]