According to Jinshi report, Wang Qing, chief macro analyst of Oriental Jincheng, said that market liquidity is expected to remain tight in April, and the average DR007 will continue to run above short-term policy interest rates. Wang Qing believes that macro data in the first two months of this year exceeded market expectations, and the official manufacturing PMI index rebounded sharply in March, which means that GDP growth in the first quarter is expected to reach about 5.0%, higher than expected. The market quotation rate of loans with a maturity of more than 5 years has been significantly reduced and a comprehensive reduction in the required reserve ratio has also been implemented in February. Therefore, the probability of interest rate reduction and reserve requirement ratio reduction in the short term is unlikely.