Core Viewpoint - The People's Bank of China (PBOC) is actively engaging in liquidity management by conducting significant reverse repurchase operations to support the financial market during a critical liquidity assessment period in June [1] Group 1: Reverse Repo Operations - In early June, the PBOC announced a 1 trillion yuan (approximately 140 billion USD) three-month reverse repurchase operation [1] - On June 13, the PBOC announced an additional 400 billion yuan (approximately 56 billion USD) reverse repurchase operation with a six-month term [1] - A total of 1.2 trillion yuan (approximately 168 billion USD) in reverse repos is set to mature throughout June, indicating a net liquidity injection for the month [1] Group 2: Market Conditions - The liquidity demand from financial institutions is expected to be high in June due to the significant maturity of interbank certificates of deposit and the half-year liquidity assessment [1] - The PBOC's provision of medium-term funding support reflects its commitment to nurturing the market during this period [1]