Core Viewpoint - The People's Bank of China (PBOC) indicates that the financial market is operating smoothly, with measures in place to maintain stability in the foreign exchange market and bolster market confidence [1] Group 1: Foreign Exchange Market - The PBOC emphasizes comprehensive policies to ensure stability in the foreign exchange market and strengthen expectation management [1] - The supply and demand in the foreign exchange market are reported to be fundamentally balanced [1] - The RMB is expected to remain stable against a basket of currencies, with an appreciation of 4.4% against the US dollar projected for 2025 [1] Group 2: Bond Market - The bond market is described as developing steadily and healthily, with the representative 10-year government bond yield stabilizing around 1.8% to 1.9% recently [1] Group 3: Capital Market - Confidence in the capital market has been effectively boosted, leading to increased trading activity [1]

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the stability of the financial market and outlines measures to maintain foreign exchange market stability, with a projected appreciation of the RMB against the USD by 4.4% by 2025 [1] Group 1: Foreign Exchange Market - The PBOC is implementing comprehensive measures to ensure the stability of the foreign exchange market and strengthen expectation management [1] - The supply and demand in the foreign exchange market are reported to be basically balanced [1] - The RMB is expected to maintain basic stability against a basket of currencies by 2025 [1] Group 2: Bond Market - The bond market is described as stable and healthy, with the representative 10-year government bond yield recently stabilizing around 1.8% to 1.9% [1] Group 3: Capital Market - Confidence in the capital market has been effectively boosted, leading to active trading [1]