[The People's Bank of China to Resume Open Market Operations for Government Bond Trading] At the 2025 Financial Street Forum Annual Conference, Pan Gongsheng, Governor of the People's Bank of China, announced that the People's Bank of China will resume open market operations for government bond trading. Last year, in accordance with the deployment of the Central Financial Work Conference, the People's Bank initiated secondary market government bond trading operations to enrich monetary policy tools, enhance the financial functions of government bonds, optimize the pricing benchmark of the government bond yield curve, and promote coordination between monetary policy and fiscal policy. At the beginning of the year, due to supply-demand imbalances and risk accumulation in the bond market, the related operations were temporarily suspended. Pan Gongsheng stated that the bond market is currently operating well, and the People's Bank will flexibly conduct two-way operations based on the demand for base money issuance, combined with market supply and demand as well as changes in the yield curve, to ensure smooth monetary policy transmission and financial market stability.