Xinhua Finance and Economics, Beijing, April 29 (Gao Ershan) The People's Bank of China launched a 7-day reverse repurchase operation of 2 billion yuan on the 29th, and the winning interest rate was 1.80%, the same as before. On the same day, a 7-day reverse repurchase of 2 billion yuan expired, and the open market achieved zero investment and zero withdrawal.
The Shanghai Interbank Offered Rate (Shibor) was affected by the month-end effect, and the interest rates of all varieties rose across the board, with 7D-14D varieties both exceeding 2%. Specifically, the overnight Shibor rose 1.70BP to 1.8230%, the 7-day Shibor rose 12.90BP to 2.0800%, and the 14-day Shibor rose 10.20BP to 2.1030%.
Shanghai Interbank Offered Rate (29 Apr)
Source: National Interbank Funding Center
In the interbank pledged repo market, the turnover of all varieties rose generally, and the turnover of non-bank markets increased significantly, with 7D-14D varieties exceeding 2%. Specifically, the weighted average interest rates of DR001 and R001 rose by 1.5BP and 6.9BP respectively to 1.8266% and 1.8871%, and the turnover decreased by 31.7 billion yuan and increased by 1,769.9 billion yuan respectively; the weighted average interest rates of DR007 and R007 rose by 14.1BP and 13.7BP respectively to 2.1024% and 2.1059%, and the turnover increased by 65.7 billion yuan and 1,055.3 billion yuan respectively;DR014, The weighted average interest rate of R014 rose by 11.3BP and 7.9BP respectively to 2.1165% and 2.0845%, and the turnover decreased by 16.3 billion yuan and increased by 173.2 billion yuan respectively.
Money Market Rates (29 Apr)
Source: National Interbank Funding Center
According to the traders of Shanghai International Currency Brokerage Company, the overall balance of funds on the 29th was loose. In early trading, the non-bank overnight mortgage rate was traded near the weighted level, and the certificate of deposit credit was traded around 1.95%. There is more demand for cross-month funds, with the bid of deposit certificates of deposit at 2.10-2.15%, the main transaction of non-bank cross-month transactions around 2.15%-2.20%, the highest transaction at 2.30%, and the transaction of bank 14-day deposit certificates of deposit at 2.10%. In the afternoon, the capital side gradually relaxed, the non-bank overnight deposit certificate interest rate was traded at 1.90%, the cross-month OFR became more, piled up at 2.10%, the lowest transaction rate at the end of the day was 1.75%, and the deposit certificate transaction was 1.80%. Loose overall until the close.
In terms of interbank certificates of deposit, Shanghai international money brokerage traders said that as of 5:30 p.m., 51 interbank certificates of deposit were issued on April 29, with an actual issuance volume of 58.74 billion yuan.
In terms of primary certificates of deposit, the full maturity is due on working days, and the overall trading is light. In terms of secondary certificate of deposit transactions, the overall upward trend of the transaction yields of each maturity compared with yesterday's close, rose sharply in the morning, and began to gradually decline in the afternoon, of which 1M rose by about 4BP to 1.96%, 3M rose by about 1BP to 2.03%, 6M rose by about 2BP to 2.10%, 9M rose by about 2BP to 2.17%, and 1Y fell by about 0.5BP to 2.17%.
【Today's Attention】
•On the 29th, the State Administration of Financial Supervision and Administration issued the "Guiding Opinions on Promoting the Standardized and Healthy Development of Financial Companies of Enterprise Groups and Improving the Quality and Efficiency of Supervision", which pointed out that it is necessary to adhere to the attributes of internal financial services. Finance companies should stick to their main responsibilities and main business, provide financial services closely around the main business of the enterprise group, strengthen the centralized management of the enterprise group's funds, improve the efficiency of capital use, reduce the overall operating costs, and effectively improve the quality of financial services. It should not become a profit-making center for an enterprise group, and excessive financing in the interbank market should be strictly prohibited, so as to prevent alienation from becoming a channel and tool for external financing of an enterprise group. Strengthen financial services in key areas. Finance companies should closely follow the national strategic guidance, give full play to the advantages of being close to industry, and increase support for advanced manufacturing, scientific and technological innovation, green and low-carbon development, equipment renewal, and trade-in of consumer goods within the enterprise group.
• According to 21 financial news, the reporter learned that the central bank, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Civil Affairs jointly issued the "Notice on Matters Concerning the Continuation of the Implementation of Special Re-lending for Inclusive Pension", which expanded the scope of the pilot project of special re-lending for inclusive pension to the whole country, and expanded the scope of support to support financial institutions to provide preferential loans, reduce financing costs, and promote the increase in the supply of inclusive pension services. It will be implemented until the end of 2024.
•China Construction Bank announced that it achieved a net profit of 86.817 billion yuan in the first quarter of 2024, a year-on-year decrease of 2.17%.
•Shanghai Pudong Development Bank announced that it achieved a net profit of 17.421 billion yuan in the first quarter of 2024, a year-on-year increase of 10.04%.
•China Merchants Bank announced that its revenue in the first quarter of 2024 was RMB86.417 billion, down 4.65% year-on-year, and its net profit attributable to the parent company was RMB38.077 billion, down 1.96% year-on-year.
•Postal Savings Bank announced that the net profit in the first quarter of 2024 was 25.926 billion yuan, a year-on-year decrease of 1.35%.
•Agricultural Bank of China announced that the net profit in the first quarter was 70.386 billion yuan, a year-on-year decrease of 1.63%.
• Chinese announced a net profit of RMB8.96 billion in the first quarter, down 23.5% year-on-year.
Editor: Xing Lisha
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