Buyback reverse repurchase with fixed quantity and renewal, pre-holiday liquidity without worry.

On February 4, the People's Bank of China conducted 800 billion yuan of fixed quantity, fixed rate tender, multiple price bid reverse repurchase operations with a term of 3 months. According to Wind data, the scale of 3-month reverse repurchase transactions that matured in February was 700 billion yuan, so net injections of 100 billion yuan were achieved this month. This is the first time since November 2025 that the 3-month reverse repurchase transactions have been increased, which will help maintain ample liquidity in the banking system.