Group 1 - The core viewpoint of the news is that the introduction of general repurchase agreements for credit bond ETFs in China is expected to enhance liquidity and provide new investment opportunities in the credit bond market [1][8]. - General repurchase agreements allow investors to use their securities as collateral to borrow funds, facilitating short-term financing [1][5]. - The China Securities Depository and Clearing Corporation (CSDC) acts as a central counterparty in these transactions, reducing negotiation burdens and risks for participants [2][3]. Group 2 - Only credit bond ETFs that meet specific criteria, such as sufficient scale, diversified investment targets, and strong liquidity support from market makers, are eligible to participate in general repurchase agreements [6][7]. - The inclusion of credit bond ETFs in repurchase agreements is anticipated to increase their attractiveness to investors, leading to growth in product scale and trading activity [8]. - The development of credit bond ETFs is expected to improve the pricing and liquidity of underlying credit bonds, potentially lowering the financing costs for issuers [8].