Group 1 - The core viewpoint of the articles highlights the expansion and optimization of the Bond Connect program, which facilitates foreign investors' access to and use of RMB assets, thereby deepening the integration of domestic financial markets with global markets [1][2] - As of May 2025, the scale of bonds held by foreign investors in the interbank market reached 4.35 trillion yuan [1] - The Shanghai Clearing House has integrated bond registration, custody, and settlement functions with the support of the bond market's opening to foreign investors, continuously enriching the usage scenarios of interbank market bonds [1] Group 2 - Since the launch of the foreign currency repurchase clearing business, the number of participants has reached 83, including 11 foreign institutions, with participants comprising domestic banks, foreign banks, securities companies, and other financial entities [2] - In the first half of 2025, the clearing volume of the foreign currency repurchase clearing business reached 1.58 trillion yuan, representing a year-on-year growth of 93.7% [2] - The Shanghai Clearing House aims to innovate bond clearing business models, enhance collaboration in financial infrastructure, and explore the expansion of foreign currency repurchase business into cross-border markets, promoting the broader application of RMB bonds [2]