研究所日报-20251205

Group 1: International Relations - President Xi Jinping emphasized the importance of mutual understanding and support between China and France, regardless of external changes[2] - French President Macron reaffirmed France's commitment to the one-China policy and the deepening of the comprehensive strategic partnership with China[2] - Both leaders discussed the Ukraine crisis and signed multiple cooperation agreements in nuclear energy, agriculture, education, and environmental protection[2] Group 2: Monetary Policy - The central bank will conduct a 1 trillion yuan reverse repurchase operation for three months, offsetting the amount maturing this month[3] - The central bank's continued reverse repurchase operations since September do not indicate a reduction in liquidity support, as this is just one of the tools used[3] - Current interbank market liquidity remains stable, with no significant fluctuations in funding prices observed[3] Group 3: Stock Market Performance - A-shares showed mixed results, with the Shanghai Composite Index down 0.06% and the Shenzhen Component Index up 0.4%, with total trading volume at 15,489.6 billion yuan, a decrease of 1,210.02 billion yuan from the previous trading day[4] - The ChiNext Index rose by 1.01%, and the Sci-Tech 50 Index increased by 1.36%[4] - Internationally, the Nikkei 225 led gains with a 2.33% increase, followed by Brazil and Russia with gains of 1.67% and 1.49%, respectively[4] Group 4: Bond and Currency Market - The yield on the 10-year government bond is 1.8722%, with a change of +3.02 basis points[5] - The average rates for R001 and R007 were 1.3611% and 1.4852%, respectively[5] - The US dollar index closed at 99.0602, up 0.2%, while the offshore yuan depreciated against the dollar by 130 basis points, with an exchange rate of 7.0713[5]