文/刘佳 12月24日央行公告称，为保持银行体系流动性充裕，12月25日央行将以固定数量、利率招标、多重价位 中标方式开展4000亿元MLF操作，期限为1年期。 因本月有3000亿元MLF到期，12月央行MLF净投放为1000亿元，为连续第十个月加量续作，符合市场 预期。 考虑到本月央行还净投放2000亿元买断式逆回购，这意味着12月中期流动性净投放总额达到3000亿元， 较上月减少3000亿元。 谈及12月MLF与买断式逆回购合计净投放中期流动性规模较上月减少3000亿元，在业内人士看来，这 一方面源于当月政府债券净融资规模较前期有所下降，另一方面也不排除2026年一季度央行实施降准、 向市场注入较大规模长期流动性的可能。 展望2026年，中央经济工作会议要求，"要继续实施适度宽松的货币政策。把促进经济稳定增长、物价 合理回升作为货币政策的重要考量，灵活高效运用降准降息等多种政策工具，保持流动性充裕"。 东方金诚研究部判断，2026央行还会通过各类流动性工具搭配组合，适时向市场注入短中长期流动性， 引导资金面处于稳定的充裕状态。这不仅会继续助力政府债券顺利发行，引导金融机构加大信贷投放， 也将释放数量型政策 ...

Group 1 - Xi Jinping emphasized that Taiwan's return to China is an important part of the post-war international order during a phone call with US President Trump [1] - The call followed a successful meeting in Busan, where both leaders agreed on many important consensus points, indicating a stable and positive trend in US-China relations [1] - Trump acknowledged the importance of the Taiwan issue to China and expressed agreement with Xi's views on the relationship between the two countries [1] Group 2 - The People's Bank of China will conduct a 10 billion yuan MLF operation with a one-year term on November 25, 2025 [2] Group 3 - The first large-scale dedicated optical quantum computer manufacturing plant in China has officially opened in Shenzhen, covering an area of approximately 5,000 square meters [3] - The plant is capable of producing dozens of dedicated optical quantum computers annually, filling a gap in global large-scale manufacturing in this field [3] Group 4 - The Shenzhen Financial Committee issued a warning about illegal financial activities in the gold trading sector, urging the public to choose legitimate investment channels [4] Group 5 - A second batch of technology innovation bonds supported by risk-sharing tools from the central bank is set to be issued, totaling 930 million yuan [5] Group 6 - Shanghai's government has issued measures to promote high-quality development in the pharmaceutical industry, focusing on key areas such as cell and gene therapy and artificial intelligence medical devices [6] Group 7 - Moore Threads announced an initial online subscription rate of 0.02423369% for its stock issuance, with nearly 4.83 million valid subscription accounts [7] - Industrial Fulian confirmed that it has not lowered its fourth-quarter profit target and is proceeding with production and shipment as planned [7] Group 8 - Huanrui Century reported that its shareholder Qingyou Ruihe sold a total of 7.2585 million shares during a specified period due to judicial enforcement [8] - Zhongji Xuchuang's executive vice president Wang Xiaodong reduced his holdings by 70,860 shares at an average price of 414.24 yuan per share [9] Group 9 - Longpan Technology signed a supplementary agreement with Chuangneng New Energy, increasing the total sales amount to over 45 billion yuan for lithium iron phosphate cathode materials [10] Group 10 - Jiangyang Materials' major shareholder reduced his holdings by 190,000 shares during a period of stock price fluctuation, consistent with his reduction plan [11] - Jinbei Automotive signed a strategic framework agreement with JD.com to collaborate in various areas, although the financial impact remains uncertain [12]

（原标题：今日看点｜2025全球数商大会将举行） 11月25日重点关注的财经要闻与资本市场大事： 1、2025全球数商大会将举行 （数据来源Wind，内容不构成任何投资建议） 11月25日至26日，2025全球数商大会将在上海国际会议中心举行。本届大会以"数联全球 商通未来—— 乘数无界∞"为主题，将搭建全球数字经济高水平合作平台，为推动数据要素市场化配置改革贡献上海 实践。 经济观察网 编辑 王俊勇 整理 2、央行将开展10000亿元MLF操作 据中国人民银行消息，为保持银行体系流动性充裕，中国人民银行将于2025年11月25日以固定数量、利 率招标、多重价位中标方式开展10000亿元MLF操作，期限为1年期。 3、美国9月零售销售月率、美国9月PPI等数据将公布。 ...

Core Insights - The article discusses significant developments in the financial sector, highlighting trends and shifts that could impact investment strategies [1] Group 1: Financial Sector Trends - The financial sector is experiencing a notable increase in interest rates, which has led to a rise in borrowing costs for consumers and businesses [1] - There is a growing trend of digital transformation within banks, with many institutions investing heavily in technology to enhance customer experience and operational efficiency [1] - Regulatory changes are also shaping the landscape, with new compliance requirements affecting how banks operate and manage risk [1] Group 2: Company-Specific Developments - Major banks reported a mixed performance in their latest earnings, with some showing strong revenue growth while others faced challenges due to increased competition and market volatility [1] - Investment banks are focusing on expanding their advisory services, particularly in mergers and acquisitions, as companies seek strategic growth opportunities [1] - There is an increasing emphasis on sustainable finance, with banks launching green bonds and other financial products aimed at supporting environmentally friendly projects [1]

Core Viewpoint - The People's Bank of China (PBOC) announced a plan to conduct a 1 trillion yuan (approximately 100 billion USD) Medium-term Lending Facility (MLF) operation on November 25, 2025, to maintain ample liquidity in the banking system [1] Group 1 - The MLF operation will be conducted using a fixed quantity and interest rate bidding method, with multiple price levels for bidding [1] - The term of the MLF operation is set for one year [1]

Core Viewpoint - To maintain ample liquidity in the banking system, the People's Bank of China will conduct a 1 trillion yuan MLF operation on November 25, 2025, with a one-year term using a fixed amount, interest rate bidding, and multiple price-level bidding methods [1] Group 1 - The operation will involve a total of 1 trillion yuan (approximately 100 billion) [1] - The MLF (Medium-term Lending Facility) operation is aimed at ensuring sufficient liquidity in the banking sector [1] - The bidding method will include fixed amounts and interest rate bidding, allowing for multiple price levels [1]

Core Viewpoint - The People's Bank of China (PBOC) announced a 600 billion MLF operation to maintain liquidity in the banking system, indicating a continued net injection of liquidity for the seventh consecutive month, aligning with market expectations [1][2]. Group 1: MLF Operations and Liquidity - The PBOC will conduct a 600 billion MLF operation on September 25, 2025, with a one-year term, using a fixed quantity and multi-price bidding method [1]. - In September, 300 billion MLF is maturing, resulting in a net injection of 300 billion MLF, maintaining a high level of net liquidity injection totaling 600 billion, consistent with the previous month [1][2]. - The continuous net injection of medium-term liquidity reflects the coordination between monetary and fiscal policies, supporting government bond issuance and meeting credit demand from enterprises and households [1][2]. Group 2: Market Conditions and Future Expectations - Recent market conditions, including rising mid-to-long-term interest rates and tightening liquidity, prompted the PBOC to increase fund injections through MLF to stabilize market expectations [2]. - The PBOC's ongoing net liquidity injection signals a supportive monetary policy stance, especially in light of declining macroeconomic indicators due to various factors [2]. - Looking ahead, there is an expectation for further monetary policy easing in the fourth quarter, including potential reserve requirement ratio cuts and the resumption of government bond trading, to ensure stable liquidity in the market [2].

Core Viewpoint - The People's Bank of China (PBOC) is set to conduct a 600 billion yuan MLF operation on September 25, 2025, to maintain ample liquidity in the banking system [1] Group 1 - The operation will be conducted using a fixed quantity and interest rate bidding method with multiple price levels [1] - The term of the MLF operation will be one year [1]

Core Viewpoint - To maintain ample liquidity in the banking system, the People's Bank of China will conduct a 600 billion MLF operation on September 25, 2025, with a one-year term [1] Group 1 - The operation will be conducted using a fixed amount, interest rate bidding, and multiple price bidding methods [1]

Core Viewpoint - The central bank announced a plan to conduct a 600 billion MLF operation to maintain ample liquidity in the banking system, scheduled for August 25, 2025, with a one-year term [1] Group 1 - The central bank will implement a fixed amount, interest rate bidding, and multiple price level bidding method for the MLF operation [1] - The operation aims to ensure sufficient liquidity in the banking system [1]