With the release of financial data for January imminent, the industry generally expects an increase in new RMB loans and social financing month-on-month. Wang Qing, Chief Macro Analyst at Dongfang Jincheng, believes that under seasonal patterns, new RMB loans in January are expected to reach 5 trillion yuan, with a significant month-on-month increase of about 4 trillion yuan, although this is a decrease of about 100 billion yuan compared to the same period last year. It can be observed that the upward trend in bill rates in January is not as strong as in previous years, which may indicate this to some extent. Looking ahead to future monetary policy, Li Chao, Chief Economist at Zheshang Securities, expects a reserve requirement ratio cut of 25 to 50 basis points and a rate cut of 10 basis points in 2026. (Securities Daily)