Group 1 - The central bank reported that the turnover of the interbank RMB derivatives market in 2025 is expected to reach 58.5 trillion yuan, an increase of 58.6% compared to 2024 [1] - The average closing price of the 1-year FR007 swap rate at the end of 2025 is projected to be 1.50%, which is an increase of 3 basis points from the end of 2024 [1] Group 2 - The turnover of the government bond futures market in 2025 is anticipated to be 97.0 trillion yuan, reflecting a growth of 43.9% from 2024 [1] - The open interest in government bond futures at the end of 2025 is expected to be 648,000 contracts, an increase of 30.4% compared to the end of 2024 [1] - The closing price of the 10-year government bond futures main contract is projected to be 107.9 yuan at the end of 2025, a decrease of 1.0% from the end of 2024 [1]