The People's Bank of China launched a convenient exchange operation for securities, funds, and insurance companies on November 3, 2026. The operating amount was 100 billion yuan. Using the rate bidding method, 31 securities and fund companies participated in the bidding, and the winning bid rate was 10 basis points. This is SFISF's largest operation since it was founded in October 2024. A number of public fund companies interviewed said that the timely introduction of new policies to facilitate this round of swaps will help improve capital market liquidity, enhance the ability of professional institutional investors to allocate funds and invest countercyclically, boost market confidence, and form a synergy with other market stabilization policies. From a long-term perspective, the continuous optimization of exchange facilities is conducive to attracting more medium- and long-term capital to enter the market, improving the internal stability mechanism of the capital market, and providing strong support for the smooth operation and long-term healthy development of the capital market.

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