Group 1 - The core viewpoint of the news is the extension of the "Northbound Swap Connect" product contract period to 30 years, enhancing the interconnectivity of the domestic and foreign interest rate derivatives market [1] - On the launch day of the optimization measures, 25 domestic and foreign institutions actively participated in transactions of over 10 years RMB interest rate swaps, with a total trading volume of 1.53 billion RMB [1] - The optimization will improve the yield curve, fill the gap for ultra-long-term interest rate management tools, and enhance the diversity of cross-border investment strategies [1] Group 2 - Since its launch in May 2023, the "Northbound Swap Connect" has seen increasing trading activity, with a cumulative transaction volume of 7.16 trillion RMB by June 2025, attracting 82 foreign institutions [2] - The "Northbound Swap Connect" has become a primary channel for foreign investors to manage RMB asset interest rate risks, continuously attracting more foreign capital to increase holdings in Chinese market bonds [2] - Future plans include enriching the product types of the "Swap Connect" and improving the risk management framework to promote the joint development of the financial markets in mainland China and Hong Kong [2]