Wang Qing, Chief Economist of East Money Securities: The timing of "appropriate reserve requirement ratio cuts and interest rate reductions" in the second quarter has become mature, and the implementation time may be moderately advanced.

According to data from the National Bureau of Statistics, the manufacturing PMI index in April was 49.0%, a decrease of 1.5 percentage points from the previous month, falling below the critical point; the service PMI index was 50.1%, a decrease of 0.2 percentage points from March, remaining in the expansion range. Wang Qing, chief macro analyst at Orient Securities, said that the timing for "timely reduction of reserve requirements and interest rates" in the second quarter has become mature, and the implementation time may be moderately advanced.