The State Information Office held a press conference to introduce monetary policy implementation and financial statistics for the first half of 2026. Zou Lan, press spokesman and deputy governor of the People's Bank of China, said at the press conference that the central bank's investment in various instruments effectively hedged the $1 trillion liquidity gap caused by factors such as deposit reserves and cash investment in the first six months. The average overnight interest rate in the money market was 1.31% for the first six months, and the overall operation was stable. Zou Lan also mentioned that in order to better meet the short-term liquidity management needs of the banking system and enhance the accuracy and effectiveness of monetary policy interest rate regulation, at the end of June, the People's Bank of China also added a variety of overnight reverse repurchase operations to open market operations, further enriched the toolbox, and narrowed the operating interest rate range for temporary forward and reverse repurchases from 70 basis points to 50 basis points. In addition, the central bank has also created a repurchase tool for overseas central banks to facilitate RMB liquidity management and RMB bond asset allocation for overseas central banks. The first operation has recently been completed.

The State Information Office held a press conference to introduce monetary policy implementation and financial statistics for the first half of 2026. Zou Lan, press spokesman and deputy governor of the People's Bank of China, said at the press conference that the central bank's investment in various instruments effectively hedged the $1 trillion liquidity gap caused by factors such as deposit reserves and cash investment in the first six months. The average overnight interest rate in the money market was 1.31% for the first six months, and the overall operation was stable. Zou Lan also mentioned that in order to better meet the short-term liquidity management needs of the banking system and enhance the accuracy and effectiveness of monetary policy interest rate regulation, at the end of June, the People's Bank of China also added a variety of overnight reverse repurchase operations to open market operations, further enriched the toolbox, and narrowed the operating interest rate range for temporary forward and reverse repurchases from 70 basis points to 50 basis points. In addition, the central bank has also created a repurchase tool for overseas central banks to facilitate RMB liquidity management and RMB bond asset allocation for overseas central banks. The first operation has recently been completed.