Lates News

Chief economist of CITIC Securities Ming Ming stated that the shift of the 14-day reverse repurchase operation from quantity bidding to rate bidding indicates a change from rate control tool to quantity control tool, which is beneficial for constructing a market-oriented interest rate control mechanism where the policy rate is the interest rate for the 7-day reverse repurchase operations and interest rates for other terms gradually become market-determined, thereby streamlining the interest rate transmission mechanism from short to long terms.