Core Viewpoint - The People's Bank of China (PBOC) conducted a net injection of 29.5 billion yuan through reverse repos on May 16, 2025, following a total of 106.5 billion yuan in 7-day reverse repos, with 77 billion yuan maturing on the same day [1]. Group 1: Reverse Repo Operations - On May 16, 2025, the PBOC executed a reverse repo operation of 106.5 billion yuan for a 7-day term, resulting in a net injection of 29.5 billion yuan after accounting for 77 billion yuan maturing [1]. - For the week, the PBOC conducted a total of 486 billion yuan in 7-day reverse repos, with 836.1 billion yuan in reverse repos and 125 billion yuan in one-year Medium-term Lending Facility (MLF) maturing, leading to a net withdrawal of 475.1 billion yuan [1]. Group 2: Maturity and Interest Rates - On May 15, 2025, 158.6 billion yuan in 7-day reverse repos matured, while 1.25 billion yuan in one-year MLF also matured [3]. - The interest rate for the 7-day reverse repos conducted on May 15 and May 16 was 1.4% [3].

央行公告，为维护银行体系流动性合理充裕，2025年5月15日，人民银行以固定利率、数量招标方式开 展了645亿元逆回购操作，期限为7天，操作利率为1.40%，投标量和中标量均为645亿元。同花顺 （300033）iFinD数据显示，今日有1586亿元7天期逆回购到期。 ...

中国央行逆回购操作当日实现净投放430亿元 金十数据5月12日讯，中国央行今日开展430亿元7天期逆回购操作，因今日无逆回购到期，当日实现净投放430亿元。看公开市 场资金流向，到"数据库-中国央行数据"查看>> 逆回购 票据 MLF 逆回购到期 | MLF到期 | 日期 | 类别(全部) | 量(亿) | 期限 | 利率 | | --- | --- | --- | --- | --- | | 2025-05-12 | 逆回购 | 430 | 7天 | 1.4 | | 2025-05-09 | 逆回购 | 770 | 7天 | 1.4 | | 2025-05-08 | 逆回购 | 1586 | 7天 | 1.4 | | 2025-05-07 | 逆回购到期 | 5308 | 7天 | | | 2025-05-07 | 逆回购 | 1955 | 7天 | 1.5 | | 2025-05-06 | 逆回购到期 | 10870 | 7天 | | | 2025-05-06 | 逆回购 | 4050 | 7天 | 1.5 | | 2025-04-30 | 逆回购到期 | 1080 | 7天 | | | 2025-04- ...

中国央行今日开展430亿元7天逆回购操作，操作利率持平1.40%。今日无逆回购到期。 ...

Group 1: Important Data Releases - The US April CPI data will be released on Tuesday, followed by the April PPI and retail sales data, as well as the Eurozone and UK Q1 GDP on Thursday. China's April financial data will be released next week at an unspecified time [1] Group 2: Earnings Reports - Key companies reporting earnings next week include JD.com, SoftBank, and Honda on Tuesday; Tencent, Sony, and Porsche on Wednesday; and Alibaba, NetEase, Beike, and Geely on Thursday [1] Group 3: A-Share Market Developments - A total of 28 companies in the A-share market will have their restricted shares unlocked next week, with a total market value of 18.63 billion yuan. The top three companies by unlock value are Guojin Securities, Qiangrui Technology, and Jiangsu Huachen, valued at 4.166 billion yuan, 3.243 billion yuan, and 2.644 billion yuan respectively [1] Group 4: New Stock Listings - Tian Gong Co., Ltd. will be listed on the Beijing Stock Exchange on May 13, focusing on the research, production, and sales of titanium and titanium alloy materials [1] Group 5: Central Bank Operations - The central bank will have 836.1 billion yuan in reverse repos maturing next week, with specific maturities of 0 billion, 405.0 billion, 195.5 billion, 158.6 billion, and 77.0 billion yuan from Monday to Friday. Additionally, 125.0 billion yuan in MLF will mature on Thursday [1]

中国央行：今日开展1955亿元7天逆回购操作，投标量1955亿元，中标量1955亿元，操作利率为 1.50%，与此前持平。同花顺（300033）iFinD数据显示，今日有5308亿元7天期逆回购到期。 ...

（原标题：今日看点｜国新办将举行"一揽子金融政策支持稳市场稳预期"有关情况新闻发布会） 经济观察网讯 5月7日重点关注的财经要闻与资本市场大事： 1、国新办将举行"一揽子金融政策支持稳市场稳预期"有关情况新闻发布会 5月7日，190家公司共发布192个股票回购相关进展。其中，3家公司首次披露股票回购预案，5家公司回 购方案获股东大会通过，178家公司披露股票回购实施进展，5家公司回购方案已实施完毕。 从首次披露回购预案来看，当日共3家公司股票回购预案金额超千万。东方证券、道通科技、银轮股份 回购预案金额最高，分别拟回购不超5.0亿元、2.0亿元、1.0亿元。从股东大会通过回购预案来看，当日 共3家公司回购预案超千万。嘉益股份、中伟股份、永杉锂业回购金额最高，分别拟回购不超1.6亿元、 8632.98万元、2879.88万元。 4、今日有5308亿元7天期逆回购到期 4月30日，央行开展5308亿元7天期逆回购操作，操作利率1.50%，今日到期。 5、美国当周EIA原油库存、欧元区3月零售销售月率等数据将公布。 5月7日上午9时，国新办将举行新闻发布会，中国人民银行、国家金融监督管理总局、中国证券监督管 理委员 ...

4、现货黄金一度升破3380美元/盎司。受国际金价影响，国内多家金店足金饰品价格再度突破千元。 智通财经5月6日午间新闻精选 5、截至午间收盘，沪指涨0.94%，深证成指涨1.66%，创业板指涨2%。恒生指数涨0.69%，恒生科技指 数跌0.1%。 1、今日公布的4月财新中国通用服务业经营活动指数（服务业PMI）录得50.7，低于3月1.2个百分点， 在扩张区间降至七个月来最低。 2、据文化和旅游部数据中心测算，"五一"假期5天全国国内出游3.14亿人次，同比增长6.4%；国内游客 出游总花费1802.69亿元，同比增长8.0%。 3、央行今日开展4050亿元7天期逆回购操作，实现净回笼6820亿元。 ...

Core Viewpoint - In April, the People's Bank of China (PBOC) conducted a total of 1.2 trillion yuan in reverse repurchase operations, marking the first reduction in the scale of this policy tool since its inception, which is interpreted as a potential precursor to future reserve requirement ratio (RRR) cuts aimed at supporting economic growth [3][5][6]. Group 1: Reverse Repo Operations - The PBOC announced a fixed quantity, interest rate bidding, and multiple price level bidding for 1.2 trillion yuan in reverse repos, with 700 billion yuan for 3-month terms and 500 billion yuan for 6-month terms [3][5]. - The April operations saw a reduction of 500 billion yuan compared to previous months, coinciding with the maturity of similar amounts in reverse repos [3][5]. - The reduction in reverse repo operations does not indicate a tightening of liquidity but may pave the way for future RRR cuts to enhance monetary policy effectiveness [3][6]. Group 2: Monetary Policy Tools - The PBOC has a diverse set of monetary policy tools, including short-term reverse repos and medium-term lending facilities (MLF), with reverse repos serving as a medium to short-term liquidity injection tool [5]. - Since October 2024, the PBOC has conducted seven reverse repo operations with varying scales, indicating a strategic approach to liquidity management [5][6]. Group 3: Future Expectations - Analysts suggest that the reduction in reverse repo operations and the increase in MLF operations may signal an upcoming RRR cut, which could inject significant long-term liquidity into the market [6][10]. - The PBOC has indicated a willingness to adjust monetary policy based on domestic and international economic conditions, with expectations for RRR cuts and interest rate reductions to support the real economy [8][9]. - Forecasts suggest a potential RRR cut of 0.5 percentage points and a reduction in interest rates by 0.3 percentage points in May, which would enhance credit demand and support economic stability [10].

Group 1 - The official manufacturing PMI for April fell by 1.5 percentage points to 49%, indicating a contraction in the manufacturing sector, while the Caixin manufacturing PMI recorded 50.4, down 0.8 percentage points from March, marking the lowest in three months [2] - The central bank has maintained a net injection of over 1 trillion yuan in the past five trading days to stabilize the funding environment, with the latest reverse repo operation amounting to 530.8 billion yuan at a rate of 1.50% [2] - Public funds have actively participated in the bond market, with net purchases of interest rate bonds reaching 44.4 billion yuan on April 29, indicating a shift in sentiment compared to a net sell-off of 3 billion yuan on April 28 [3] Group 2 - The recent PMI data highlights the impact of tariffs and trade tensions, leading to an expected acceleration in government bond issuance, particularly supporting technology, consumption, and foreign trade sectors [2] - The 10-year government bond yield is anticipated to decline to around 1.5%, with a potential interest rate cut of approximately 20 basis points expected in May or June [2] - The overall trading theme in the bond market is influenced by macroeconomic data and stable funding prices, with mixed performance observed in government bond futures on April 30 [1]