Group 1 - The People's Bank of China conducted a 7-day reverse repurchase operation of 449.2 billion yuan at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 234.4 billion yuan after 214.8 billion yuan of reverse repos matured on the same day [1] - The overnight Shanghai Interbank Offered Rate (Shibor) fell below 1.4%, with the 7-day and 14-day rates also declining. Specifically, the overnight Shibor decreased by 10.10 basis points to 1.3660%, the 7-day Shibor dropped by 5.10 basis points to 1.5450%, and the 14-day Shibor fell by 0.40 basis points to 1.6310% [1][2] Group 2 - In the interbank pledged repo market, the overnight rates fell by nearly 10 basis points, while the transaction volume for the 7-day products increased, with the R007 transaction volume accounting for 16.3%. The weighted average rates for DR001 and R001 decreased by 9.9 basis points and 9.2 basis points, respectively, while the rates for DR007 and R007 fell by 1.6 basis points and 1.4 basis points [6] - As of July 29, there were 62 interbank certificates of deposit issued, with an actual issuance amount of 109.06 billion yuan. The overall trading sentiment for primary certificates was weak, with significant fluctuations in the current bonds [11]

Group 1 - The People's Bank of China conducted a 7-day reverse repurchase operation of 495.8 billion yuan at an interest rate of 1.40%, resulting in a net injection of 325.1 billion yuan after 170.7 billion yuan of reverse repos matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for overnight and 7-day terms decreased slightly, with overnight Shibor down by 5.30 basis points to 1.4670% and 7-day Shibor down by 2.40 basis points to 1.5960% [1][2] - The overnight and 7-day repo rates also saw declines, with the weighted average rates for DR001 and R001 down by 5.5 basis points and 6.2 basis points, respectively, while DR007 and R007 rates decreased by 7.2 basis points and 6.7 basis points [5] Group 2 - The interbank market showed a balanced funding situation in the morning, transitioning to a looser environment later in the day, with overnight rates for collateralized deposits dropping to around 1.50% [13] - A total of 77 interbank certificates of deposit were issued on July 28, with an actual issuance volume of 132.81 billion yuan, indicating active market participation despite cautious sentiment [14] - The insurance industry reported a premium income of 3.735 trillion yuan in the first half of the year, reflecting a year-on-year growth of 5.3%, with life insurance companies showing particularly strong performance in June [16]

Group 1 - The People's Bank of China conducted a 7-day reverse repurchase operation of 214.8 billion yuan at an interest rate of 1.40%, maintaining the previous rate, resulting in a net withdrawal of 127.7 billion yuan due to 342.5 billion yuan maturing on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for short-term maturities declined across the board, with overnight Shibor down by 4.90 basis points to 1.3170%, and 7-day Shibor down by 1.50 basis points to 1.4620% [1][2] - In the interbank pledged repo market, various rates decreased while transaction volumes increased, with DR001 and R001 weighted average rates down by 4.7 basis points and 4.1 basis points, respectively, while transaction amounts rose significantly [4] Group 2 - The money market showed a generally loose liquidity condition, with overnight rates for pledged repo transactions fluctuating between 1.35% and 1.45% during the day, indicating a balanced supply and demand [9] - On July 22, 73 interbank certificates of deposit were issued, totaling 82.85 billion yuan, with mixed trading sentiment observed in the secondary market, where yields showed slight fluctuations [10] - The People's Bank of China reported that by the end of Q2 2025, the balance of RMB loans from financial institutions reached 268.56 trillion yuan, reflecting a year-on-year growth of 7.1% [12]

Group 1 - The People's Bank of China conducted a 170.7 billion yuan 7-day reverse repurchase operation at an interest rate of 1.40%, maintaining the previous rate, resulting in a net withdrawal of 55.5 billion yuan due to 226.2 billion yuan of reverse repos maturing on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for overnight and 7-day tenors decreased, while the 14-day tenor saw a slight increase. Specifically, the overnight Shibor fell by 9.60 basis points to 1.3660%, and the 7-day Shibor decreased by 1.70 basis points to 1.4770% [1][2] - In the interbank pledged repo market, various rates continued to decline, with the 7-day rate dropping below 5%. The weighted average rates for DR001 and R001 fell by 9.6 basis points and 8.7 basis points, respectively, with transaction volumes increasing significantly [6] Group 2 - The funding environment on July 21 was characterized by a loose liquidity situation, with overnight and 7-day transactions settling around 1.48% and 1.47%, respectively. The lowest overnight rate reached 1.35% by the end of the trading day [11] - A total of 95 interbank certificates of deposit were issued on July 21, with an actual issuance volume of 187.56 billion yuan [12] - The loan market quoted interest rates (LPR) were reported at 3.0% for 1-year and 3.5% for 5-year and above, remaining effective until the next announcement [14]

Group 1 - The People's Bank of China conducted a 1,875 billion yuan 7-day reverse repurchase operation on July 18, maintaining an interest rate of 1.40%, resulting in a net injection of 1,028 billion yuan after 847 billion yuan of reverse repos matured on the same day [1] - For the week, the People's Bank of China executed a total of 17,268 billion yuan in 7-day reverse repos, leading to a total net injection of 12,011 billion yuan after accounting for 4,257 billion yuan in reverse repos and 1,000 billion yuan in 1-year MLF maturing [1] - The Shanghai Interbank Offered Rate (Shibor) remained stable, with the overnight Shibor decreasing by 0.10 basis points to 1.4620%, and the 7-day Shibor down by 1.00 basis points to 1.4940% [1] Group 2 - The overnight funding rate in the interbank pledged repo market fell below 1.5%, while the 14-day funding rate saw a slight increase. The weighted average rates for DR001 and R001 decreased by 0.7 basis points and 2.4 basis points, respectively, with transaction volumes dropping significantly [1] - The overall funding environment on July 18 was balanced and slightly loose, with overnight rates stabilizing around 1.48%-1.50% and 7-day rates remaining stable [10] - A total of 169 interbank certificates of deposit were issued on July 18, with an actual issuance volume of 2,617.7 billion yuan, reflecting active trading sentiment in the primary market [11] Group 3 - The Financial Regulatory Administration held a meeting emphasizing the need to advance the reform of small and medium financial institutions and effectively prevent and resolve key area risks [14] - The People's Bank of China is soliciting opinions on the "Interbank Market Brokerage Business Management Measures (Draft for Comments)," which includes 26 articles focusing on the types and scope of brokerage institutions and risk isolation requirements [14] - The People's Bank of China is also seeking feedback on the draft supervision and management measures for financial institutions regarding anti-money laundering and anti-terrorist financing, detailing regulatory responsibilities and requirements [14]

Monetary Policy Operations - The People's Bank of China conducted a 7-day reverse repurchase operation of 450.5 billion yuan at an interest rate of 1.40%, maintaining the previous rate [1] - With 90 billion yuan of 7-day reverse repos maturing on the same day, the net injection into the market was 360.5 billion yuan [1] Interbank Offered Rates - The Shanghai Interbank Offered Rate (Shibor) remained stable, with the overnight Shibor decreasing by 0.30 basis points to 1.4630%, while the 7-day Shibor remained unchanged at 1.5040% [1][2] - The 14-day Shibor decreased by 0.60 basis points to 1.5530% [2] Short-term Funding Rates - In the interbank pledged repo market, short-term funding rates showed minimal fluctuations, with DR001 and R001 weighted average rates decreasing by 0.5 basis points and 0.1 basis points, respectively [5] - The transaction volume for DR001 increased by 207.3 billion yuan, while R001's transaction volume rose by 194.9 billion yuan [5] Market Sentiment - Overall, the funding environment was balanced and slightly loose, with overnight pledged repo transactions occurring at rates around 1.55-1.58% [13] - The issuance of interbank certificates of deposit was active, with 43 certificates issued on July 17, totaling 51.32 billion yuan [13][14]

Group 1 - The People's Bank of China conducted a 520.1 billion yuan reverse repurchase operation with a 7-day term at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 444.6 billion yuan after 75.5 billion yuan of reverse repos matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) showed a downward trend, with the overnight Shibor decreasing by 6.90 basis points to 1.4660%, the 7-day Shibor down by 4.20 basis points to 1.5040%, and the 14-day Shibor down by 2.00 basis points to 1.5590% [1][2] Group 2 - In the interbank pledged repo market, overnight rates increased in volume but decreased in price, with the weighted average rates for DR001 and R001 falling by 6.1 basis points and 6.2 basis points to 1.4689% and 1.5129%, respectively, while transaction volumes rose by 180.3 billion yuan and 144.1 billion yuan [5] - The overall funding situation was balanced throughout the day, with demand from banking institutions remaining strong, and the prices for overnight and 7-day repos stabilizing around 1.50% and 1.50%, respectively [11] - As of July 16, 127 interbank certificates of deposit were issued, with a total issuance amount of 301.24 billion yuan, indicating a weak trading sentiment in the primary market except for the 1-month maturity [12]

Group 1 - The funding environment on July 15 shifted from tight to loose, with overnight rates rising above 1.5% and increased transaction volumes for 7D and 14D products [1][11] - The People's Bank of China conducted a 342.5 billion yuan 7-day reverse repo operation at a rate of 1.40%, maintaining the previous level, resulting in a net injection of 173.5 billion yuan into the market [1][14] - The Shanghai Interbank Offered Rate (Shibor) for overnight loans rose by 12.00 basis points to 1.5350%, while the 7-day and 14-day Shibor increased by 3.10 and 4.40 basis points, respectively [2][5] Group 2 - In the interbank pledged repo market, overnight rates exceeded 1.5%, with the weighted average rates for DR001 and R001 rising by 10.6 and 9.1 basis points, respectively [5][8] - The total transaction volume for DR001 decreased by 10.7 billion yuan, while R001 saw an increase of 42.5 billion yuan [5][8] - The primary market for negotiable certificates of deposit (NCDs) showed strong trading sentiment, particularly for 3-month and 1-year maturities, with a total issuance of 134.2 billion yuan on July 15 [12][14] Group 3 - The China Banking and Insurance Regulatory Commission issued new regulations for local asset management companies, limiting their investment balances with single clients and related parties to a percentage of their net assets [14] - China Pacific Insurance reported a 9.7% year-on-year increase in original insurance premium income for its life insurance subsidiary, totaling 168.01 billion yuan, while its property insurance subsidiary saw a 0.9% increase to 113.99 billion yuan [14]

Monetary Policy Operations - The People's Bank of China conducted a 847 billion yuan reverse repurchase operation with a rate of 1.40%, maintaining the previous level; with 340 billion yuan of reverse repos maturing, the net injection was 507 billion yuan [1] - This week, the central bank performed a total of 4,257 billion yuan in reverse repos, with 6,522 billion yuan maturing, resulting in a net withdrawal of 2,265 billion yuan [1] Interbank Rates - The Shanghai Interbank Offered Rate (Shibor) showed low volatility; overnight Shibor rose by 1.70 basis points to 1.3330%, while the 7-day Shibor increased by 0.10 basis points to 1.4750%, and the 14-day Shibor went up by 1.60 basis points to 1.5140% [1][2] - The short-term funding rates in the interbank pledged repo market exhibited mixed movements; DR001 and R001 weighted average rates increased by 2.0 basis points and 1.7 basis points, respectively, while DR007 and R007 rates decreased by 2.3 basis points and 1.2 basis points [5] Market Conditions - The overall funding situation on July 11 was balanced, with non-bank entities being relatively loose while banks were tighter; overnight pledged rate certificates traded around 1.48%-1.50% [10] - A total of 120 interbank certificates were issued on July 11, with an actual issuance volume of 1,635.9 billion yuan; the primary market saw active trading with issuers raising prices [11] Financial Products and Regulations - The National Financial Regulatory Administration released the "Management Measures for the Appropriateness of Financial Institution Products," emphasizing the need for financial institutions to collect customer information responsibly and protect customer data [13] - As of the end of May, the balance of Shanghai's foreign and domestic currency loans was 12.73 trillion yuan, reflecting a year-on-year growth of 8.6%, while deposits reached 22.33 trillion yuan, up 5.7% year-on-year [14]

Monetary Policy and Market Operations - The People's Bank of China conducted a 900 billion yuan reverse repurchase operation with a rate unchanged at 1.40%, resulting in a net injection of 328 billion yuan after 572 billion yuan matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) showed slight fluctuations, with overnight Shibor rising by 0.30 basis points to 1.3160%, and 7-day Shibor increasing by 1.00 basis points to 1.4740% [1] Interbank Repo Market - In the interbank pledged repo market, short-term funding rates increased slightly, with DR001 and R001 weighted average rates rising by 0.6 basis points and 1.1 basis points to 1.3227% and 1.387% respectively, while transaction volumes decreased by 637 billion yuan and 428 billion yuan [4] - DR007 and R007 weighted average rates increased by 1.8 basis points and 1.7 basis points to 1.4945% and 1.5208%, with transaction volumes decreasing by 59 billion yuan and 361 billion yuan [4] Funding Conditions - Early morning funding conditions were balanced but slightly tight, gradually easing after the open market operations, with overnight repo rates trading around 1.48%-1.50% [10] - By the afternoon, funding conditions shifted to a balanced to slightly loose state, with overnight repo rates dropping to a minimum of 1.40% [10] Interbank Certificates of Deposit - On July 10, there were 47 interbank certificates of deposit issued, with a total issuance amount of 238.9 billion yuan, indicating active trading sentiment [11] - The secondary market saw prices entering an upward channel, with the one-year government bond yield surpassing 1.62% to around 1.625% [11]