The central bank will conduct overnight reverse repo operations for nine consecutive working days, further enhancing the precision and flexibility of liquidity adjustment.

On October 20, the People's Bank of China issued an open market operations announcement showing that, in order to better match the short-term liquidity needs of the banking system, it will conduct overnight reverse repo operations from October 21 to November 2, using a fixed rate and quantity tender, with a daily operation volume of no more than 1 trillion yuan. Industry experts said that the precision and flexibility of the People's Bank of China's liquidity adjustment have been further enhanced. Overnight operations can flexibly inject and promptly withdraw funds according to changes in fund supply and demand, precisely offsetting short-term disturbances. Used in combination with tools such as the 7-day tenor, they help form a tool portfolio with a better maturity match and more precise adjustment, better safeguarding the smooth operation of the money market.