Group 1: Bond Market Overview - In May, the bond market issued a total of 71,951.6 billion yuan in various bonds, including 14,892.9 billion yuan in government bonds, 7,794.4 billion yuan in local government bonds, 12,184.1 billion yuan in financial bonds, 9,022.7 billion yuan in corporate credit bonds, 239.0 billion yuan in credit asset-backed securities, and 27,741.5 billion yuan in interbank certificates of deposit [1] - The interbank bond market saw a total transaction volume of 30.7 trillion yuan in May, with an average daily transaction of 1.6 trillion yuan, reflecting a year-on-year increase of 5.0% and a month-on-month increase of 6.6% [1] - As of the end of May, the custody balance of foreign institutions in the Chinese bond market was 4.4 trillion yuan, accounting for 2.3% of the total custody balance, with 4.3 trillion yuan in the interbank bond market [1] Group 2: Money Market and Interest Rates - In May, the interbank lending market recorded a transaction volume of 6.7 trillion yuan, a year-on-year decrease of 17.3% and a month-on-month decrease of 3.8%; meanwhile, bond repurchase transactions totaled 129.8 trillion yuan, showing a year-on-year increase of 7.8% [2] - The weighted average interest rate for interbank lending was 1.55%, down 18 basis points month-on-month, while the weighted average interest rate for pledged repos was 1.56%, down 16 basis points [2] Group 3: Commercial Paper and Small Enterprises - In May, the acceptance amount of commercial bills was 3.5 trillion yuan, and the discount amount was 2.9 trillion yuan; as of the end of May, the acceptance balance of commercial bills was 20.0 trillion yuan, and the discount balance was 15.2 trillion yuan [2] - Small and micro enterprises accounted for 93.4% of all bill issuers, with 10.7 million small and micro enterprises issuing bills totaling 2.6 trillion yuan, representing 72.7% of the total bill issuance [2] Group 4: Stock Market Performance - By the end of May, the Shanghai Composite Index closed at 3,347.5 points, up 68.5 points or 2.1% month-on-month, while the Shenzhen Component Index closed at 10,040.6 points, up 140.8 points or 1.4% [2] - The average daily trading volume in the Shanghai market was 469.8 billion yuan, down 8.9% month-on-month, while the Shenzhen market saw an average daily trading volume of 714.5 billion yuan, up 3.4% month-on-month [2] Group 5: Holder Structure of Interbank Bond Market - As of the end of May, there were 3,988 institutional members in the interbank bond market, all of which were financial institutions; the top 50 investors in corporate credit bonds held 48.1% of the total bonds, primarily concentrated in public funds, state-owned commercial banks, and insurance financial institutions [3]

Market Overview - In June, the average daily trading volume in the Shanghai Stock Exchange was 510.4 billion yuan, an increase of 8.6% month-on-month; the Shenzhen Stock Exchange's average daily trading volume was 796.9 billion yuan, up 11.5% month-on-month [1][7] Bond Market Issuance - In June, the bond market issued a total of 87,939.5 billion yuan in various bonds, including 15,903.9 billion yuan in government bonds, 11,753.2 billion yuan in local government bonds, 10,738.7 billion yuan in financial bonds, 14,257.3 billion yuan in corporate credit bonds, 247.2 billion yuan in credit asset-backed securities, and 34,569.3 billion yuan in interbank certificates of deposit [2] Bond Market Operation - In June, the interbank bond market had a total transaction volume of 34.3 trillion yuan, with an average daily transaction of 1.7 trillion yuan, a year-on-year decrease of 1.2% but a month-on-month increase of 6.2% [3] Foreign Participation in Bond Market - As of the end of June, the custody balance of foreign institutions in the Chinese bond market was 4.3 trillion yuan, accounting for 2.3% of the total custody balance [4] Money Market Activity - In June, the interbank lending market had a transaction volume of 8.4 trillion yuan, a year-on-year increase of 11.2% and a month-on-month increase of 26.0% [5] Commercial Paper Market - In June, the acceptance amount of commercial bills was 3.5 trillion yuan, and the discount amount was 2.8 trillion yuan [6] Stock Market Performance - By the end of June, the Shanghai Composite Index closed at 3,444.4 points, an increase of 96.9 points or 2.9% month-on-month; the Shenzhen Component Index closed at 10,465.1 points, up 424.5 points or 4.2% month-on-month [7]

Group 1 - The central bank released the financial market operation report for June 2025, indicating significant growth in interbank lending and bond repurchase transactions [1] - In June, the interbank lending market recorded a transaction volume of 8.4 trillion yuan, representing a year-on-year increase of 11.2% and a month-on-month increase of 26% [1] - The bond repurchase transactions totaled 156.3 trillion yuan, showing a year-on-year increase of 32.7% and a month-on-month increase of 20.4% [1] Group 2 - The standard bond repurchase transactions on exchanges reached 50.6 trillion yuan, with a year-on-year increase of 32.2% and a month-on-month increase of 4.1% [1] - The weighted average interest rate for interbank lending was 1.46%, which decreased by 9 basis points month-on-month [1] - The weighted average interest rate for pledged repos was 1.50%, reflecting a month-on-month decrease of 6 basis points [1]

Group 1 - The central bank reported that in May 2025, the interbank lending market transactions amounted to 6.7 trillion yuan, representing a year-on-year decrease of 17.3% and a month-on-month decrease of 3.8% [1] - Bond repurchase transactions reached 129.8 trillion yuan in May, showing a year-on-year increase of 7.8% but a month-on-month decrease of 4.7% [1] - Standard bond repurchase transactions on exchanges totaled 48.6 trillion yuan, which is a year-on-year increase of 24.7% and a month-on-month decrease of 8.0% [1] Group 2 - The weighted average interest rate for interbank lending in May was 1.55%, which is a decrease of 18 basis points month-on-month [1] - The weighted average interest rate for pledged repos was 1.56%, reflecting a month-on-month decrease of 16 basis points [1]