According to online reports, Pan Gongsheng, governor of the People's Bank of China, announced a simultaneous RRR cut and interest rates at the press conference of the State Council Information Office on May 7. Among them, reducing the deposit reserve ratio by 0.5 percentage points is expected to provide long-term liquidity to the market by approximately 1 trillion yuan; Reducing the policy interest rate by 0.1 percentage points, that is, the open market 7-day reverse repo operating rate will be lowered from the current 1.5% to 1.4%, which is expected to drive the loan market quoted rate (LPR) to a simultaneous downward trend of about 0.1 percentage points; The announced interest rate of structural monetary policy was lowered by 0.25%, including: interest rates for various special structural instruments and re-loan rates for supporting agriculture and small enterprises, all reduced from the current 1.75% to 1.5%; the interest rate for supplementary mortgage loans (PSL) has been reduced from the current 2.25% to 2%; the interest rate on personal housing provident fund loans was reduced by 0.25 percentage points, the interest rate for first homes over 5 years was reduced from 2.85% to 2.6%, and interest rates for other maturities were adjusted simultaneously.