央行公告，为保持银行体系流动性充裕，2025年12月5日，中国人民银行将以固定数量、利率招标、多重价位中标方式 开展10000亿元买断式逆回购 操作，期限为3个月（91天）。 | | | 中国人民银行 THE PEOPLE'S BANK OF CHINA | | | 货币政策司 Monetary Policy Department | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 信息公开 | 新闻发布 | 法律法规 | 货币政策 | 宏观审慎 | 信贷政策 | 金融市场 | 金融稳定 | 调查统计 | 银行会计 | | 支付体系 | | | 金融科技 | 人民币 | 经理国库 | 国际交往 | 人员招求 | 学术交流 | 征信管理 | 反洗钱 | 党建工作 | | | | 服务互动 | 政务公开 | 政策解读 | 公告信息 | 图文直播 | 央行研究 | 音频视频 | 市场动态 | 网上展厅 | 报告下载 | | 报刊年鉴 | | | 网送文告 | 办事大厅 在线申报 | | 下 ...

本文编选自"中国人民银行"官网，智通财经编辑：刘家殷。 智通财经APP获悉，12月4日，央行公告，为保持银行体系流动性充裕，2025年12月5日，中国人民银行 将以固定数量、利率招标、多重价位中标方式开展10000亿元买断式逆回购操作，期限为3个月(91天)。 ...

Group 1 - The People's Bank of China (PBOC) announced a reverse repurchase operation to maintain ample liquidity in the banking system [1][2] - The operation will involve a fixed amount of 1 trillion yuan (approximately 100 billion) with a term of 3 months (91 days) [1][2] - The bidding method will be based on fixed quantity, interest rate tendering, and multiple price bidding [1][2]

Group 1 - The People's Bank of China released the overall situation of the payment system for the third quarter of 2025, indicating significant growth in bank account openings [1] - As of the end of the third quarter, there were a total of 115.395 billion bank accounts in China, including 119 million corporate accounts and 1.5276 billion personal accounts [1] - The number of active bank cards reached 10.149 billion, with 9.442 billion debit cards and a combined total of 707 million credit and loan cards, showing a continued decline in credit card numbers [1]

Group 1 - The issuance of the first RMB-denominated sovereign bonds in Moscow by Russia is seen as a significant event in the internationalization of the RMB, reflecting a broader trend of countries adopting the currency for settlement, reserves, and financing [1][2] - Over 80 countries and regions have included RMB in their foreign exchange reserves, totaling $247 billion, with its share rising to 2.18%, an increase of 1.1 percentage points since its inclusion in the SDR in 2016 [2] - Countries like Kazakhstan, Kenya, Slovenia, and Pakistan are increasingly issuing RMB-denominated bonds or converting debts to RMB, indicating a recognition of the stability of RMB assets [5][7] Group 2 - The global preference for RMB is a rational response to the imbalances in the current international monetary system, particularly in light of the politicization of the SWIFT system and financial sanctions by the U.S. [9][11] - The stability of RMB assets is highlighted by China's 10-year government bond yield at around 2.8%, which offers a clear advantage over negative-yielding assets in the Eurozone and Japan [13] - The internationalization of RMB is driven by market forces, with the IMF indicating that this trend will continue as China's role in the global economy and trade strengthens [15] Group 3 - China maintains a calm and steady approach to RMB internationalization, emphasizing market-driven principles and avoiding the pursuit of currency hegemony [16][17] - The Chinese government is actively enhancing the convenience of cross-border RMB usage through financial opening and institutional improvements, including the issuance of RMB bonds in Hong Kong [19] - The central bank plans to continue developing policies for cross-border RMB use and increasing risk hedging tools to support various market participants in conducting trade financing and overseas loans in RMB [19]

Group 1 - The central bank has implemented various policy tools to ensure a stable liquidity environment as the year-end approaches, with expectations that it will continue to support liquidity in December [1][3] - In November, the central bank's 7-day reverse repo operations resulted in a net withdrawal of 556.2 billion yuan, while medium to long-term liquidity remained in a net injection state, indicating a "short-term withdrawal, long-term injection" strategy [2][3] - The central bank's net purchase of government bonds in November amounted to 50 billion yuan, marking the second consecutive month of bond trading operations, which reflects a supportive monetary policy stance [2][3] Group 2 - November saw slight fluctuations in liquidity, with the average R001 rising by 4 basis points to 1.43% and the average DR001 increasing by 3 basis points to 1.37%, indicating a generally reasonable liquidity level [3][4] - Analysts expect that while liquidity fluctuations may increase towards the end of December, the central bank's supportive attitude will help maintain a balanced liquidity environment [3][4] - Concerns about instability in bank liabilities may persist, but overall liquidity is expected to remain ample under the central bank's guidance [4]

Core Insights - The People's Bank of China released the overall situation of the payment system for the third quarter, highlighting significant statistics regarding card issuance and transaction volumes [1] Group 1: Card Issuance - As of the end of Q3, a total of 10.149 billion bank cards have been issued nationwide [1] - Among these, 9.442 billion are debit cards, while credit cards and loan cards account for 0.707 billion [1] Group 2: ATM Machines - The number of ATM machines in operation reached 760,900 units by the end of Q3, showing a decrease from 775,700 units at the end of Q2 [1] Group 3: Transaction Volumes - In Q3, there were 165.278 billion bank card transactions, amounting to 234.92 trillion yuan [1] - The breakdown of transaction types includes: - Cash deposit transactions: 800 million transactions, totaling 6.43 trillion yuan [1] - Cash withdrawal transactions: 1.301 billion transactions, totaling 6.71 trillion yuan [1] - Transfer transactions: 59.578 billion transactions, totaling 188.58 trillion yuan [1] - Consumption transactions: 103.594 billion transactions, totaling 33.19 trillion yuan [1]

Core Insights - The People's Bank of China released the overall situation of the payment system for the third quarter, highlighting significant growth in bank accounts and non-cash payment transactions [1] Group 1: Bank Accounts - As of the end of the third quarter, a total of 15.395 billion bank accounts were opened nationwide [1] - Among these, 119 million were corporate bank accounts, with 82.7091 million being basic deposit accounts [1] - The number of personal bank accounts reached 15.276 billion [1] Group 2: Non-Cash Payment Transactions - In the third quarter, banks processed a total of 168.508 billion non-cash payment transactions [1] - The total amount for these transactions was 150.336 trillion yuan [1]

Core Points - The People's Bank of China conducted a 7-day reverse repurchase operation amounting to 793 billion yuan at a fixed interest rate of 1.40% [1] - The total amount of 7-day reverse repos maturing today is 2133 billion yuan, resulting in a net withdrawal of 1340 billion yuan [1] Summary by Category - **Monetary Policy Operations** - The People's Bank of China executed a reverse repurchase operation of 793 billion yuan with a 1.40% interest rate [1] - The operation was conducted through a fixed rate and quantity tendering method [1] - **Market Liquidity** - A total of 2133 billion yuan in 7-day reverse repos is set to mature today [1] - This leads to a net liquidity withdrawal of 1340 billion yuan from the market [1]

Core Insights - The People's Bank of China (PBOC) has implemented multiple liquidity injection tools in November 2025, resulting in a net liquidity injection of 500 billion yuan from open market treasury transactions, 254 billion yuan from pledged supplementary loans, 1150 billion yuan from other structural monetary policy tools, and 1000 billion yuan from medium-term lending facilities (MLF) [1] Group 1 - In November, the PBOC's net liquidity injection totaled 2904 billion yuan across various tools [1] - Despite a net withdrawal from the 7-day reverse repurchase operations, the overall liquidity situation was improved through the use of medium- and long-term liquidity tools [1] - Industry experts anticipate that the PBOC will take multiple actions in December to ensure ample market liquidity, especially as the year-end approaches with increased government bond issuance and maturing interbank certificates of deposit [1]