The People's Bank of China (PBOC) has launched new tools to better guide market interest rates and ensure bond market stability. These tools include temporary bond repurchase (repo) agreements and reverse repos. The interbank market liquidity condition in China remained loose, with the weighted average overnight repo rate (DR001) for deposit-taking institutions briefly dropping by 4.9 basis points to 1.6286%, marking a new low since February 29, according to the X-repo system. The introduction of these tools aims to enhance the central bank's cash management capabilities and support the overall economy.