CITIC Mingming: The central bank may still hedge phase disturbances and stabilize funding fluctuations through methods such as purchasing government bonds

From the performance of the capital market, there has been no significant tightening of short-term liquidity at the end of the year. Mingming, the chief economist of CITIC Securities Co., Ltd., stated that recent short-term funding rates have generally been low, with the overnight rate once falling below 1.3%, indicating that market liquidity is excessively seasonally loose. "The central bank's orientation to maintain ample liquidity has not changed." Mingming believes that as the year-end approaches, the central bank may still use open market operations, government bond purchases, and other methods to hedge against temporary disturbances and stabilize funding fluctuations. (Shanghai Securities News)