Core Insights - The People's Bank of China released the financial market performance for August 2025, highlighting significant changes in interbank lending and bond repurchase transactions [1] Interbank Lending Market - In August, the interbank lending market recorded a transaction volume of 8.8 trillion yuan, representing a year-on-year decrease of 3.1% and a month-on-month decrease of 10.4% [1] Bond Repurchase Market - The bond repurchase transactions totaled 160.8 trillion yuan in August, showing a year-on-year increase of 11.8% but a month-on-month decrease of 8.28% [1] - Standard bond repurchase transactions on exchanges reached 52.9 trillion yuan, which is an 18.3% year-on-year increase and a 7.9% month-on-month decrease [1] Interest Rates - The weighted average interest rate for interbank lending was 1.40% in August, reflecting a month-on-month decline of 5 basis points [1] - The weighted average interest rate for pledged repos was 1.41%, also down by 5 basis points month-on-month [1]

Core Insights - The central bank released the financial market operation data for August 2025, indicating a mixed performance in various segments of the financial market [1] Interbank Market - In August, the interbank lending market recorded a transaction volume of 8.8 trillion yuan, representing a year-on-year decrease of 3.1% and a month-on-month decrease of 10.4% [1] Bond Repurchase Market - The bond repurchase transactions totaled 160.8 trillion yuan in August, showing a year-on-year increase of 11.8% but a month-on-month decrease of 8.28% [1] - Standard bond repurchase transactions on exchanges reached 52.9 trillion yuan, with a year-on-year increase of 18.3% and a month-on-month decrease of 7.9% [1] Interest Rates - The weighted average interest rate for interbank lending was 1.40% in August, reflecting a month-on-month decline of 5 basis points [1] - The weighted average interest rate for pledged repos was 1.41%, also down by 5 basis points month-on-month [1]

Core Insights - The central viewpoint of the article highlights the performance of the financial market in July 2025, as reported by the central bank, indicating growth in interbank lending and bond repurchase transactions. Group 1: Interbank Market - In July, the interbank lending market recorded a transaction volume of 9.8 trillion yuan, representing a year-on-year increase of 3.1% and a month-on-month increase of 16.6% [1] - The weighted average interest rate for interbank lending was 1.45%, showing a decrease of 1 basis point month-on-month [1] Group 2: Bond Repurchase Market - The bond repurchase transactions totaled 175.3 trillion yuan in July, which is an 18.5% increase year-on-year and a 12.2% increase month-on-month [1] - The standard bond repurchase transactions on exchanges reached 57.4 trillion yuan, reflecting a year-on-year growth of 21.1% and a month-on-month increase of 13.5% [1] - The weighted average interest rate for pledged repos was 1.46%, which decreased by 4 basis points month-on-month [1]

Group 1 - The central bank released the financial market operation report for June 2025, indicating significant growth in interbank lending and bond repurchase transactions [1] - In June, the interbank lending market recorded a transaction volume of 8.4 trillion yuan, representing a year-on-year increase of 11.2% and a month-on-month increase of 26% [1] - The bond repurchase transactions totaled 156.3 trillion yuan, showing a year-on-year increase of 32.7% and a month-on-month increase of 20.4% [1] Group 2 - The standard bond repurchase transactions on exchanges reached 50.6 trillion yuan, with a year-on-year increase of 32.2% and a month-on-month increase of 4.1% [1] - The weighted average interest rate for interbank lending was 1.46%, which decreased by 9 basis points month-on-month [1] - The weighted average interest rate for pledged repos was 1.50%, reflecting a month-on-month decrease of 6 basis points [1]

Group 1 - The central bank reported that in May 2025, the interbank lending market transactions amounted to 6.7 trillion yuan, representing a year-on-year decrease of 17.3% and a month-on-month decrease of 3.8% [1] - Bond repurchase transactions reached 129.8 trillion yuan in May, showing a year-on-year increase of 7.8% but a month-on-month decrease of 4.7% [1] - Standard bond repurchase transactions on exchanges totaled 48.6 trillion yuan, which is a year-on-year increase of 24.7% and a month-on-month decrease of 8.0% [1] Group 2 - The weighted average interest rate for interbank lending in May was 1.55%, which is a decrease of 18 basis points month-on-month [1] - The weighted average interest rate for pledged repos was 1.56%, reflecting a month-on-month decrease of 16 basis points [1]