The People's Bank of China conducted today (25th) a RMB400 billion Medium-term Lending Facility (MLF) operation using fixed-amount, interest rate bidding, and multiple price bidding methods, with a one-year term, according to Shanghai Securities News.Market participants viewed this decision as a move to stabilize medium-term liquidity and ensure smooth operation of the funding environment.Related NewsUS Commerce Secretary: Trump Likes TikTok, but TikTok Must Be Owned by USLooking ahead to 2H25, Shanghai Securities News quoted Wang Qing, Chief Macro Analyst at Golden Credit Rating, as saying that required reserve ratio (RRR) and rate cuts are unlikely to happen in the short term, but monetary policy will continue to play a proactive role under the overarching goal of "expanding domestic demand and stabilizing growth".