According to Wind data, on 15 May, with the expiry of MLF and the expiry of the 4 billion yuan renminbi repurchase, the Central Bank achieved a net investment of MLF of 25 billion yuan renminbi this month, with an increase of 2 billion yuan renminbi in open markets.

According to the experts interviewed, although recent prices were weak and market interest rates were lower, the ability of policy precipitation was still dependent on the pace of economic rehabilitation and lower market interest rates on MLF. This month, MLF plus prices have thus continued, releasing the signal of a steady growth-oriented policy. This year’s economic performance is still under downward pressure and there is still a possibility of precipitation operations during the year.

Expected loss of interest and maintenance of MLF interest rates remained unchanged in May

As a result of lower prices and additional credit financing data in April, the current one-year bank co-benefit rate and 10-year-old country debt return rate are below MLF interest rates, as well as some banks’ downward notification of deposits, agreement deposit rates on 15 May, the precipitation of the past week’s market is expected to continue to rise.

With regard to the market’s expected precipitation logic, the Chief Fixed Proceeds Analysing Analyst of Guangxis, Zhang Xu, told journalists that MLF interest rates were central policy interest rates, which led to market interest rates rather than a fall in aggressive policy interest rates at market interest rates. The recent promotion of marketization of deposit rates is not a sufficient condition for alleviating the cost of bank liabilities.

As an important policy instrument for counter-cyclical regulation, precipitation is often introduced at a time when coping with major shocks and the functioning of the bottom economy. Taking into account the current economic operation, which is characterized by a “soft rehabilitation” posture, most experts maintain forecasts of the year’s central bank’s precipitation operations.

The Chief Macro Analyst of Long City Securities has flew to the point that land production has remained relatively low since May, far from pre-emergency levels. The availability of land-delivery and the sustainability of residential credit remains to be seen. This year, the market size of the building and the price of the building are in the adjustment phase, with some downward pressure, “there is still a need to maintain a certain level of precipitation to put the hedge down”.

The chief economist, Lee Hao, considered that UNPF could enter the interest-demotion cycle in four quarters, when the basic face-to-be-currency and monetary policies of the two countries in Central America were overstretched, and that our country would experience balance-of-payments, exchange rate improvement opportunities and further opening up of the lax space for monetary policy to generate precipitation expectations. In addition, Lee is expected to fall back again in the second half of the year, mainly because of the possible increase in economic downturns and labour stability in the second half of the year, the precipitation reflects a steady growth insurance claim, the high expiry of MLF since August and the possibility of a break-in window.

Minimization of the “substantive water” requirement

According to Wind data, on 15 May, with the expiry of MLF and the expiration of the 4 billion yuan renminbi repurchase, the Bank achieved this month a small increase by achieving a net MLF of 25 billion yuan renminbi; the Bank also achieved a net return of 2 billion yuan renminbi in open markets.

Current market liquidity is relatively abundant, with continued low interest rates in major markets and lowering the need for MLF to “reserve water”. Data show that on 12 May, the weighted average interest rate (DR007) for the return of seven days of interbank bonds and the rate of return of one year’s commercial bank (AAAA) shareholding (hereinafter referred to as “the rate of return due to the expiration of one year’s share of certificates”) were 1.81 per cent and 2.43 per cent, respectively, and were already in the seven-day period of repurchase interest rates and MLF.

Zhang Xu stated that if the banking system (medium-term) was sufficiently mobile and the central bank was not intending to substantially ease the liquidity constraints in the process of granting credit to the bank, the Bank would exercise greater restraint in providing MLF funds. At present, there is no need for a substantial supply of MLF funds for co-financing.

The chief economist and head of the Department of Research in the Gulf of Guinea region of the Federation indicated to journalists that, given the “monthly” effect of the seasonality of fiscal revenues and expenditures in May, the smoother pace of local debt distribution and credit stipulation, the probability of financial disturbances at the end of the month and significant fluctuations in liquidity was low.

The LPR proposal in May will remain unchanged

Since LPR was formed on the basis of MLF operations, the MLF interest rate remained unchanged in May, and the new loan market quotation (LPR) proposal would remain unchanged for the month. The expert was of the view that, at the present time, the lower net interest margin for the bank as a whole would still be limited to the LPR quotation.

By the end of 2022, the net divide in commercial banks had dropped to 1.91 per cent, a new low since 2010 and a net divide in many listed banks had dropped by 1.8 per cent since 2023. The Governor of the Eastern Kimberly Chief Macroa pointed out that, despite the recent downward trend in some bank deposits, lower market interest rates and lower bank liability costs, the incentive for the offer to compress LPR quotation in May remained inadequate.

In addition, the same interest rate for MLF this month also reduces the likelihood of full savings rates for banks in the short term. Owing to the recent frequency of bank movements around deposit rates, some views were expressed on the possibility of short-term banks or of a full downward adjustment rate.

Since April 2022, when the self-regulatory mechanism of the People’s Bank to guide interest rates has established a market adjustment mechanism for deposit rates, the self-regulatory mechanism member banks have adjusted the level of interest rates on deposit by reference to the 10-year rate of return on State debt and the interest rate on the loan market represented by the 1-year LPR.

The high macroanalysis of Schengen-source securities found that the current 10-year rate of return on national debt was higher than the previous round at a very low point than the one-year LPR, and that there was no sufficient condition for a full downward exchange of interest rates.

In Zhang Xu’s view, in the medium to long term, the reduction of deposit rates is a major trend, with different banks in the future, at different points of time, in many forms and marketplaces to adjust interest rates for deposits without undue attention and interpretation.

Safe and expeditious openings of new waves of cooperation platforms

Haiti

From 2018 to 2023, the city of the State of Focaus was transformed by “digits” and by “digits”.

As a sole recipient of the six successive Digital China Building Summit Networking Safeguard Services project, China has joined the Summit and developed together. The sixth Digital China Construction Summit will be held on schedule from 27 to 28 April, and UNA-China will again launch a resurgent “building number” to serve as a mission of “national teams, major forces, platoons”, with a view to reaching a “digital” contract, guaranteeing smooth communication and cybersecurity.

Five years of care and development,

In absentia

Since the holding of the first Digital China Construction Summit, China has never been absent from the Federation.

In 2018, IPPF worked at three levels of security to safeguard the important landscapes of the air, successfully opening the first five G pilot base station throughout the province at the first Digital China Building Summit, and bringing a strong network experience to users.

In 1940, IPPF took advantage of the first test advantage of the 5G network, leading the full coverage of the 5G signal of the Summit exhibit, with a high-quality safety network with a full wired network of +5G MEC, with a high level of endorsement by the host and a wide range of participants.

In 2020, IPPF successfully completed the renovation of the 5G mobile network of the Channel exhibit 10, with the addition of 11 5G stations in the “Twenty-six” and several emergency safeguard sites to meet conference communication requirements in full.

In 2021, FPF managed to overcome the negative web load of the Digital Chinese Construction Summit, held in conjunction with the Chinese International Digital Product Fair, to further strengthen the network’s resilience to shocks through technical means such as additional stations, station extensions, parameter optimization, and to re-deliver the excellent responses to the Summit guarantees.

In 2022, IPPF maintained a high-speed development momentum, customizing the development of a network reinsurance platform for the Summit, using digitization as a real-time monitoring of the operation of the network within the Summit Building, and building a secure web-based information security base, backed by efficient maintenance.

Over the past five years, IPPF has joined forces with the Digital Chinese Construction Summit to develop “accelerated keys” under 5G “New building”, achieving breakthroughs from “4G plus” to “5G quotation”, expanding network security coverage, providing full, full-time network support to the Digital China Construction Summit, and increasing network service capacity to “zero” faulty “zero” quality service has earned full recognition from all sectors of society.

Taking over from the sea,

Total “digits”

The sixth Digital China Construction Summit was convened in the context of well-planned, early deployment of IPPF, in accordance with the Summit’s safeguarding features, in order to build the Summit’s escort for Digital China, in line with the mission of “national teams, major forces, platoons”.

Since March, IPPF has set up more than 30 dedicated teams, with over 50 network experts, nearly 300 professional engineers in various areas such as network building and security clearance, providing 7 x 24 hours of real-time monitoring and on-site job security, and guaranteeing new breakthroughs over the previous five sessions.

To date, IPPF has completed network-building and optimization of key sites, such as the two main galleries, the multi-star hotels and the “Menang” campaign; has provided communication guarantees to exhibits in the presence of the garage and has set up multiple Internet wires, wire circuits, etc.; has completed the optimization of comprehensive multi-wheeled reinsurance regional tests, reinsurance regional inspections and police handling, and has completed the preparatory work of the Summit network to ensure a well-informed and dedicated operation of the reinsurance area.

At the same time, at the straits exhibition hall, Fukuoka-Onyango deployed five G technology at the core of five G technology, with a full indoor distribution of 5G to build a 5G virtual network through UPF/MEC to support the demonstration of the 5G full-link plant project during the Summit.

Innovative reinsurance upgrades,

Digital platform “新 new颜”

Thermal monitoring map of the GDS platform of the GDI Network of China allows real-time monitoring of the network of yards.

“For the first time in the security of this Summit, we have introduced five GAINS.” The Officer-in-Charge of IPPF presented that, on the basis of a unified digital technology base, IPPF developed a web-based reinsurance platform customised for the Summit, which allows real-time monitoring of the functioning of the network within the Summit complex, secures the distribution of personnel and equipment and supplies reserves, and achieves integrated network management, uniform movement control, integrated response and unified services.

It is understood that IPPF has established a 7 x 24-hour security mechanism, which provides comprehensive monitoring of key information infrastructure, the heavily safeguarded web sites involved in the meetings and critical information systems, provides DDOS offensive monitoring, protection for key security units such as the Summit House of Commons, the Fow Municipal cloud platform, and ensures data control, traceability and network information security during the Summit through a centralized data security control platform.

In addition, during the Summit, IPPF used the UNISPAL video platform to launch a slow-broadcast “Youth for You” and select four visual sites in the cities of Fow, using the 5G+ high-quality camera advantage, a round-the-clock round-the-clock display of the digital summit site, the CBD on the shore of the River and the main town of Fort, to allow those who were not able to come to the site to get the momentum of the Digital China-building Summit through the Vo video.

The protective vehicle is six-loaded, with no change in mind. The Chinese Federation will make full use of its network and technical advantages, as well as the “survivors” of “paving people”, in order to digitize networked intelligent Chinese-style modernization.

Yesterday, the 2017 “national drug control Publicity Month” series of activities in Longyan City, hosted by the drug control office of Longyan City, was launched. Olympic champion he Wenna was officially employed as the image ambassador of drug control publicity in Longyan city to promote the drug control work in Longyan city.

“As an athlete going out from Longyan, I feel honored to do some useful work for the happiness and well-being of the people in my hometown.” He Wenna said that in the future, she will actively publicize Longyan’s drug control work through various opportunities, ways and platforms to set an example for teenagers to stay away from drugs.

It is reported that he Wenna was born in Longyan and practiced gymnastics since childhood. She won the first gold medal for the Chinese trampoline team in the women’s trampoline final of the 2008 Olympic Games.

Recently, 1 million mu of rape flowers in Luoping County, Yunnan Province are in full bloom in spring. Yellow flowers, clear water, mountains and cottages complement each other, showing a strong sense of spring, attracting tourists to enjoy the flowers.

In recent years, Luoping County, Qujing City, Yunnan Province has taken flowers as the medium to create a new business form of “agriculture + tourism” agricultural tourism integration, and gradually form an industrial pattern of “combining agriculture and tourism, promoting tourism through agriculture and prospering agriculture through tourism”, so as to increase people’s income and wealth and promote rural revitalization.

In 2021, the output of rape in the county was 162000 tons, with an output value of nearly 1 billion yuan; The county received 7.9508 million tourists, with a comprehensive tourism income of 6.12 billion yuan; There are more than 2000 bee breeding households in the county, and the output of honey is more than 2000 tons. The integration and coordinated development of agriculture and tourism provides a solid development foundation for Rural Revitalization. Jinji village, Banqiao Town, Luoping County, relies on rape flowers to develop rural tourism. The per capita net income of farmers reaches 23600 yuan, becoming a model village for Rural Revitalization in Luoping County.

Rapeseed oil pressing workshop of Luoping Chengtian Oil Co., Ltd. (photographed on March 1).

On February 28, tourists took an ox cart to play in the rape field in Luoping County.

On February 28, villagers in Jinji village, Banqiao Town, Luoping County drove cattle carts and pulled tourists to watch rape flowers.

On February 28, the train passed through the sea of rape flowers, and convenient transportation provided guarantee for the development of tourism industry.

On February 28, Chen Hongmei, a villager of Jinji village, Banqiao Town, Luoping County, was sorting out the hotel room. She turned her house into a family hotel and could earn more than 60000 yuan in a flowering season.

The spectacular rape flower sea in Luoping County (UAV photo) was taken on March 3.

The spectacular sea of rape flowers in Luoping County was photographed on March 3.

On February 28, villagers of De Li village, Banqiao Town, Luoping County were checking bees.

Honey moon Technology Development Co., Ltd. in Luoping County on March 3.