国务院新闻办公室5月7日上午举行新闻发布会，请中国人民银行行长潘功胜、国家金融监督管理总局 局长李云泽、中国证券监督管理委员会主席吴清介绍"一揽子金融政策支持稳市场稳预期"有关情况， 并答记者问。 潘功胜宣布10项货币政策措施 5月7日，中国人民银行行长潘功胜在参加国新办新闻发布会时宣布10项举措。 一是降低存款准备金率0.5个百分点，预计将向市场提供中长期流动性约1万亿元。 二是完善存款准备金制度，阶段性将汽车金融公司、金融租赁公司的存款准备金率，从目前的5%调降至 0%。 三是下调政策利率0.1个百分点，公开市场7天期逆回购利率从目前的1.5%调降至1.4%，预计将带动LPR下 行约0.1个百分点。 四是下调结构性货币政策利率0.25个百分点，包括各类专项结构性工具利率、支农支小再贷款利率，均从 目前的1.75%降至1.5%；抵押补充贷款利率降至2%。 五是降低个人住房公积金贷款利率0.25个百分点，五年期以上首套房利率由2.85%降至2.6%，其他期限的 利率同步调整。 十是创设科技创新债券风险分担工具，央行提供低成本的再贷款资金。 李云泽：进一步扩大保险资金长期投资试点范围 为市场引入更多增量资金 5 ...

金融监管总局局长李云泽在参加国新办新闻发布会时表示，近期共推出8项增量政策，包括加快出 台与房地产发展新模式相适配的系列融资制度，进一步扩大保险资金长期投资试点范围，为市场引 入更多增量资金，调整优化监管规则，调降保险公司股票投资风险因子，支持稳定和活跃资本市 场，尽快推出支持小微企业、民营企业融资一揽子政策，制定银行业、保险业护航外贸发展系列政 策措施，对受关税影响较大的市场主体提供精准服务，修订并购贷款管理办法，加大对科创企业的 投资力度，制定科技保险高质量发展意见。 中国证监会主席吴清在参加国新办新闻发布会时表示，全力巩固市场维稳向好的势头，动态完善应 对各类外部风险工作预案，全力支持中央汇金公司发挥类平准基金作用。 他表示，A股市场的科技叙事逻辑越来越清晰，集聚效应日益明显。而 中国资产的配置价值和吸引 力都在持续提升。吴清坦言，前行的路上会有风有雨，不管是轻风细雨，还是暴风骤雨，不管是风 高浪急，还是惊涛骇浪，我们都有信心，有条件有能力来实现稳定健康发展。 历次调准后A股表现 最近一次央行降准发生在2024年9月27日，当日早间8点左右，央行发布公告称，中国人民银行坚 持支持性的货币政策立场，加大货 ...

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core Viewpoints - The curve structure of Treasury bond futures continues to flatten, and a package of policies is on the way. Attention is drawn to the press conference of the State Council Information Office [1]. 3. Summary by Relevant Catalogs 3.1 Market Performance - On May 6, most Treasury bond futures closed lower, with the 30 - year main contract up 0.11%, the 10 - year main contract flat, the 5 - year main contract down 0.04%, and the 2 - year main contract down 0.06%. The Treasury bond futures index was 0.73. The strategy's cumulative returns without leverage were - 0.28% in the past 20 days, - 0.77% in the past 60 days, 0.38% in the past 120 days, and 1.48% in the past 240 days [1]. - The equity market opened and closed higher, with the ChiNext Index leading the gains. The Shanghai Composite Index closed above 3300, up 1.13%, the Shenzhen Component Index up 1.84%, and the ChiNext Index up 1.97%. Nearly 5000 stocks in the whole market rose [1]. 3.2 Capital and Interest Rates - Overnight shibor was reported at 1.7020%, down 5.8bp from the previous trading day; 7 - day shibor was 1.7070%, down 5.5bp; 14 - day shibor was 1.7370%, down 4.4bp; 1 - month shibor was 1.7320%, down 1.1bp [2]. - The inter - bank pledged repurchase market traded 2.2 billion yuan on May 6, an increase of 45.51%. Overnight rate closed at 1.65%, down 13bp; 7 - day rate closed at 1.70%, down 25bp; 14 - day rate closed at 1.76%, down 14bp; 1 - month rate closed at 1.75%, up 2bp [4]. 3.3 Futures Contracts - The opening, high, low, and closing prices, as well as trading volume and open interest of 2 - year, 5 - year, 10 - year, and 30 - year Treasury bond futures main contracts on the previous trading day are provided. The 2 - year active CTD bond was 240024.IB with an IRR of 2.16%, the 5 - year was 240014.IB with an IRR of 2.31%, the 10 - year was 220003.IB with an IRR of 2.46%, and the 30 - year was 200012.IB with an IRR of 5.05%. Currently, R007 is about 0% [3]. 3.4 Yield Curves - The Treasury bond yield curve shifted upward by 0.30 - 0.76BP (2Y up 0.33BP to 1.45%; 5Y up 0.76BP to 1.53%; 10Y up 0.68BP to 1.63%; 30Y up 0.30BP to 1.83%). The credit bond yield curve shifted downward by 1.50 - 3.50BP [4][5]. 3.5 Institutional Positions - The net long positions of private funds decreased by 0.82%, foreign capital decreased by 0.72%, and wealth management subsidiaries remained unchanged [6]. 3.6 Macro and Industry News - On May 6, the central bank conducted 40.5 billion yuan of 7 - day reverse repurchase operations at an interest rate of 1.50%, unchanged from before. The State Council Information Office will hold a press conference on May 7 to introduce a package of financial policies to support market stability and expectations [8]. 3.7 Trend Intensity - The trend intensity of Treasury bond futures is 1, indicating a neutral - to - bullish trend [9].

Group 1 - The core viewpoint of the article emphasizes the introduction of a comprehensive set of financial policies aimed at stabilizing the market and managing expectations [1] - Eight new incremental policies have been launched recently, including the acceleration of financing systems compatible with new real estate development models [1] - The expansion of long-term investment pilot programs for insurance funds is intended to bring more incremental capital into the market [1] Group 2 - Regulatory rules are being adjusted and optimized, including a reduction in the investment risk factors for insurance companies in the stock market [1] - A comprehensive policy package to support financing for small and private enterprises is being developed [1] - Specific measures are being formulated to support foreign trade development, particularly for market entities significantly affected by tariffs [1] Group 3 - The management of merger loan regulations is being revised to enhance investment in technology innovation enterprises [1] - Guidelines for the high-quality development of technology insurance are also being established [1]

今日上午9时，国新办举行新闻发布会，中国人民银行行长潘功胜、国家金融监督管理总局局长李云泽、中国证券 监督管理委员会主席吴清介绍"一揽子金融政策支持稳市场稳预期"有关情况。 吴清：有信心、有条件、有能力实现中国股市的稳定健康发展 吴清表示，前行的路上会有风有雨，不管是轻风细雨，还是暴风骤雨，不管是风高浪急，还是惊涛骇浪，我们都有信 心、有条件、有能力来实现中国股市的稳定健康发展。 吴清：全力支持中央汇金公司发挥类平准基金作用 吴清表示，全力巩固市场回稳向好的势头，动态完善应对各类外部风险攻击的工作预案，全力支持中央汇金公司发挥 类平准基金作用。 吴清：近期出台进一步深化科创板创业板改革的政策举措 百万用户都在看 见证历史！港元，突发！ 美国、以色列，发动大规模空袭！伊朗传出大消息 清晨，集体大涨！两大利好，重磅来袭！ 刚刚！美国六大州，突然出手！贝森特发声，涉及对华关税 暴涨1400%！中东，突发！ 巴菲特，重磅发声！谈关税、AI、投资、现金储备…… 吴清：抓紧发布上市公司重大资产重组管理办法 吴清表示，抓紧发布上市公司重大资产重组管理办法和相关监管指引，更好发挥资本市场并购主渠道作用。 吴清：中国资产的配置 ...

Group 1: Financial Policies and Market Stability - The People's Bank of China and the China Securities Regulatory Commission will introduce a "package of financial policies to support market stability and expectations" on May 7 [1] - The Chinese government aims to implement more proactive macro policies to achieve a GDP growth target of around 5% for 2025, with a contribution rate to global economic growth maintained at approximately 30% [1] Group 2: Employment and Economic Initiatives - The Ministry of Education and six other departments have launched the "National Recruitment Action" targeting key groups such as 2025 college graduates and unemployed graduates from 2023 and 2024 [1] - The Asian Development Bank's 58th Annual Meeting will take place in Milan, Italy, from May 4 to 7, with discussions on global economic contributions and cooperation [1] Group 3: Corporate Performance and Market Trends - As of May 6, 2025, 75.46% of A-share listed companies reported profits in their Q1 earnings, indicating a strong start to the year [1] - The latest data shows that during the "May Day" holiday, sales in consumer-related industries increased by 15.2%, with home appliances and audio-visual equipment sales rising significantly [1] Group 4: Company Announcements - Huayi Brothers plans to acquire 60% of San Aifu for 4.091 billion yuan to expand its business in fluorine fine chemicals [7] - Ningde Times has repurchased 6.641 million shares, using a total of 1.551 billion yuan [7] - ST Xinchao has been investigated by the China Securities Regulatory Commission for failing to disclose regular reports on time [7]

Group 1: Hong Kong Monetary Authority Actions - The Hong Kong Monetary Authority (HKMA) intervened twice in the market, selling a total of 127.88 billion HKD (approximately 16.50 billion USD) to maintain the Hong Kong dollar's peg to the US dollar, following an earlier sale of 605.43 billion HKD (approximately 78.12 billion USD) [1] - HKMA President Yu Weiwen noted that the demand for the Hong Kong dollar is rising, primarily driven by stock-related needs, and there are no signs of abnormal activity in the currency [1] - The HKMA has reduced the duration of its holdings in US Treasury bonds and is diversifying its investments into non-US assets to manage risks [1] Group 2: Financial Market Trends - The US stock market saw declines, with the Dow Jones falling by 389.83 points (0.95%) to 40,829.00 points, and the Nasdaq dropping by 154.58 points (0.87%) to 17,689.66 points [2] - Spot gold prices rose above 3,400 USD for the first time in two weeks, influenced by geopolitical tensions between Pakistan and India [2] - Crude oil futures for June delivery increased by 1.96 USD, closing at 59.09 USD per barrel, marking a rise of 3.43% [2] Group 3: Financial Policy Announcements - The State Council of China will hold a press conference to introduce a package of financial policies aimed at stabilizing the market and expectations [3] Group 4: Hong Kong Stock Exchange Initiatives - The Hong Kong Stock Exchange and the Securities and Futures Commission have launched a "Special Line for Science and Technology Enterprises" to facilitate the listing process for technology and biotech companies, allowing them to submit applications confidentially [4] Group 5: Trade Relations and Tariffs - The European Union plans to impose additional tariffs on approximately 1 trillion EUR worth of US goods if ongoing trade negotiations do not yield satisfactory results [5] Group 6: Postal and Delivery Industry Performance - During the "May Day" holiday, China's postal and express delivery industry handled over 4.8 billion packages, reflecting a year-on-year growth of over 20%, marking a historical high for the same period [6][7] Group 7: Aviation Industry Insights - During the "May Day" holiday, domestic flight operations exceeded 68,000 flights, with a year-on-year increase of about 3%, while international flights saw a 12% increase [8] Group 8: Cross-Border Travel Statistics - The Gongbei border checkpoint reported a record average daily passenger flow of nearly 380,000 during the "May Day" holiday, with a total of nearly 1.9 million travelers, a year-on-year increase of 21.5% [9] Group 9: Restaurant Industry Performance - Haidilao restaurants experienced high customer traffic during the "May Day" holiday, with some locations achieving a table turnover rate exceeding 12 times [10] Group 10: Corporate Acquisitions - Zhongchuang Innovation plans to invest nearly 1.2 billion RMB to acquire a 22.61% stake in Suao Sensor, indicating strategic expansion in the sensor technology sector [11] Group 11: Robotics Industry Developments - Yujian and others have become shareholders in Zhongke Fifth Epoch, a company involved in the development of intelligent robotics and AI applications [12] Group 12: Hydrogen Energy Sector Expansion - Beijing Tianhai Hydrogen Energy Equipment Co., a subsidiary of Jingcheng Electromechanical, plans to raise capital through equity expansion to enhance market competitiveness [13] Group 13: Pharmaceutical Innovations - Yuanda Pharmaceutical's global innovative product STC3141 has successfully reached clinical endpoints in a Phase II trial for treating sepsis in China, marking significant progress in critical care research [14] Group 14: Obesity Treatment Research - Gilead Sciences will present research results on its obesity candidate drug ASC47 at the European Obesity Congress, highlighting advancements in obesity treatment [15]

Group 1 - The State Council will hold a press conference on May 7 to discuss a "package of financial policies to support market stability and expectations" [1] - China's GDP grew by 5.4% year-on-year in Q1, indicating a strong start to the year, with plans for more proactive macro policies to achieve a 5% growth target by 2025 [1] - The Politburo meeting in April focused on accelerating the implementation of policies announced during the Two Sessions, particularly regarding special bonds and their usage [1] Group 2 - The securities sector is experiencing a disparity between profitability and valuation expectations, with notable improvements in ROE for Guotai Junan and Haitong due to specific circumstances [2] - The top five firms in the industry by total assets and net profit attributable to shareholders are CITIC Securities, Huatai Securities, Guotai Junan, China Galaxy, and GF Securities, with market shares of 45% and 54% respectively [2] - Companies like Dongfang Caifu and招商证券 have strong customer deposit advantages and high sensitivity to trading performance [3]

Group 1 - The Asian Development Bank's 58th Annual Meeting was held in Milan, Italy, from May 4 to 7, with China's Finance Minister highlighting China's contribution to global economic growth at around 30% [1] - During the "May Day" holiday from May 1 to 5, 2025, the total cross-regional movement of people in China exceeded 1.465 billion, maintaining a high operational level [1] - Hainan's duty-free shopping market saw significant activity during the "May Day" holiday, with a total shopping amount of 510 million yuan and 79,100 shoppers recorded [1] - The national postal and express delivery industry in China handled over 4.8 billion packages during the "May Day" holiday, marking a year-on-year growth of over 20% [1] - The People's Bank of China is set to issue a set of cultural gold and silver commemorative coins on May 11, 2025, consisting of three gold and three silver coins [1] Group 2 - During the "May Day" holiday, UnionPay and Wanglian processed 23.439 billion payment transactions amounting to 7.64 trillion yuan, representing a year-on-year growth of 20.49% and 3.21% respectively [2] - The Shenzhen Stock Exchange has revised its guidelines for member client trading behavior management to enhance accountability and improve the evaluation mechanism [2] - The National Sports Administration has released a public notice regarding the proposed recommendations for undergraduate admission of outstanding athletes [2] - The Canadian Prime Minister arrived in the U.S. for discussions with President Trump, focusing on current trade pressures and broader economic and security relations between Canada and the U.S. [2] Group 3 - Microsoft officially ceased operations of its instant messaging software Skype on May 5, 2025, migrating its core functions to Microsoft Teams [3]

Group 1 - New stock offering: Hanbang Technology has an offering code of 787755, with an issue price of 22.77 yuan per share and a subscription limit of 0.50 million shares [2] - Hong Kong Securities and Futures Commission and Hong Kong Stock Exchange launched a "Special Line for Science and Technology Enterprises" to facilitate the listing of specialized technology and biotechnology companies, allowing them to submit applications confidentially [4] - The State Post Bureau reported that during the "May Day" holiday from May 1 to May 5, the national express delivery industry handled over 4.8 billion packages, a year-on-year increase of over 20%, setting a historical record for the same period [4] Group 2 - Huazhi Digital Media reported that as of May 5, the cumulative box office revenue of "Dumpling Queen" reached approximately 218 million yuan [7] - Aoheng Automotive received a designated order from a leading new energy vehicle brand [7] - A contract worth 297 million yuan for the development of a certain optical system was signed by Aopu Optoelectronics [7] Group 3 - Huamao Technology's controlling shareholder plans to increase its stake in the company by 100 million to 200 million yuan [8] - Yunda Holdings' controlling shareholder also intends to increase its stake by 100 million to 200 million yuan [9] - Linglong Tire's controlling shareholder plans to increase its stake by 200 million to 300 million yuan [10] Group 4 - Huayi Group intends to acquire 60% equity of San Aifu for 4.091 billion yuan [10] - Changchuan Technology plans to establish a joint venture with professional investment institutions to focus on the localization of high-end packaging and testing equipment [10] - Xiangyuan Cultural Tourism reported a year-on-year revenue growth of 50.47% during the "May Day" holiday [10]