The People's Bank of China today (25th) conducted a 7-day reverse repurchase operation of 789.3 billion yuan (same below) in the open market, with the operation interest rate remaining at 1.4%. Today, 187.5 billion yuan of reverse repos matured, resulting in a net injection of 601.8 billion yuan for the day. The People's Bank of China also continued with 400 billion yuan of Medium-term Lending Facility (MLF). The central parity rate of the yuan against the US dollar has fallen from a high since early November last year, reported at 7.1419, down 34 points.

The three major A-share indices opened with little change, with some individual developments. The Shanghai Composite Index opened at 3,604 points, down 1 point or 0.04%. The Shenzhen Component Index opened at 11,196 points, up 3 points or 0.03%. The ChiNext Index opened up 2 points or 0.1%, reported at 2,348 points.

Banking stocks such as China Construction Bank (601939.SH) and Industrial and Commercial Bank of China (601398.SH) opened down 0.2% and 0.3%, respectively.

Stocks related to the Hainan Free Trade Zone continued to rise, with Hainan Airport (600515.SH) and Hainan Expressway (000886.SZ) rising 6.3% and 2.3%, respectively.

Contemporary Amperex Technology Co., Limited (300750.SZ) opened flat. BYD (002594.SZ) opened down 0.5%