Chinese President Xi Jinping on Monday encouraged personnel in China's space industry to continue to work hard and accelerate progress in space endeavors.中国国家主席习近平周一鼓励中国航天人继续努力工作，加快推进航天事业。Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, met with the representatives of space scientists and engineers who participated in the research and development of the Chang'e-6 lunar mission at the Great Hall of the People in Beijing.
中共中央总书记、中央军委主席习近平在北京人民大会堂会见了参加嫦娥六号探月任务研发的航天科学家和工程师代表。Xi stressed that the achievements of the lunar exploration project embody the wisdom and hard work of several generations of Chinese aerospace workers, and demonstrate the remarkable accomplishment the country has made in scientific and technological self-reliance in recent years.习近平强调，探月工程的成果凝聚了几代中国航天人的智慧和心血，彰显了近年来我国在科技自主创新方面取得的显著成就。He urged efforts to promote the spirit of lunar exploration, characterized by "chasing dreams, daring to explore, collaborating to overcome challenges, and achieving win-win cooperation," to further enhance the national confidence and pride of all Chinese people, and build up a great force for comprehensively promoting the building of a strong country and realizing national rejuvenation through Chinese modernization.他呼吁弘扬“追逐梦想、勇于探索、团结攻坚、合作共赢”的探月精神，进一步增强全体中华儿女的民族自信和自豪感，汇聚起全面推进强国建设、实现中华民族现代化伟大复兴的强大力量。
The Chang'e-6 probe was launched from China on May 3. On June 25, its returner made a landing in north China, bringing back 1,935.3 grams of samples from the far side of the moon.嫦娥六号探测器于5月3日在中国发射，6月25日返回器成功着陆在中国北方，带回1935.3克月球背面样品。Xi noted that Chang'e-6, for the first time in human history, collected samples from the moon's far side, breaking through a number of key technologies, marking another landmark achievement in China's endeavors in space as well as in science and technology. It is an important milestone for China's lunar exploration project. Over the past 20 years, the lunar exploration project has focused on key core technologies and achieved fruitful results in scientific discovery, technological innovation, engineering practice, achievement application, and international cooperation. It has blazed a path of high-quality and cost-effective lunar exploration, making a major contribution to the development of China's space industry and human space exploration, he said.习近平指出，嫦娥六号在人类历史上首次成功采集月球背面样品，突破了多项关键技术，是我国航天事业和科技事业又一标志性成果，是我国探月工程的重要里程碑。20年来，探月工程聚焦关键核心技术，在科学探索、技术创新、工程实践、成果应用、国际合作等方面取得了丰硕成果。走出了一条高质量、高效益的月球探测道路，为我国航天事业发展和人类太空探索作出了重大贡献。Xi stressed that over the past 75 years since the founding of the People's Republic of China, the space industry has grown from weak to strong, and achieved historic, high-quality and leap-forward development.习近平强调，新中国成立75年来，航天事业由弱到强，实现历史性、高质量、跨越式发展。China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio, or RRR, by 50 basis points, People's Bank of China Gov. Pan Gongsheng said during a press conference on Tuesday.中国人民银行行长潘功胜周二在新闻发布会上表示，中国将降低银行需要持有的现金量，即存款准备金率（RRR），降幅为50个基点。Pan, who was speaking to reporters alongside two other financial regulator heads, did not indicate exactly when the central bank would ease the policy but said it would be in the near term. Depending on conditions, there may be another cut of 0.25 to 0.5 basis points by the end of the year, Pan added. He also said the PBOC would cut the 7-day repo rate by 0.2 percentage points.潘功胜与其他两位金融监管机构负责人一同向记者表示，他并未明确指出央行何时会放宽这一政策，但表示将在近期内实施。他补充说，根据条件，到今年年底前可能还会再降低0.25至0.5个基点。他还表示，中国人民银行将把7天期逆回购利率下调0.2个百分点。
China's 10-year government bond yield hit a record low of 2% after Pan's opening remarks.潘功胜发表开场白后，中国10年期国债收益率创下2%的历史新低。Later in the press conference, he also signaled that a 0.2-0.25% cut in the loan prime rate is possible, without specifying when or if he was referring to the one-year or five-year LPR. Last Friday, the PBOC kept its main benchmark lending rates unchanged at the monthly fixing.在随后的新闻发布会上，他还暗示贷款市场报价利率（LPR）有可能下调0.2-0.25%，但没有具体说明何时下调，也没有说明是指一年期还是五年期LPR。上周五，中国人民银行在月度固定利率操作中维持其主要贷款基准利率不变。Pan added that the official policy announcements would be published on the central bank's website, but did not specify when.潘功胜补充说，官方政策公告将在央行网站上公布，但未具体说明何时公布。The rare high-level press conference was scheduled after the U.S. Federal Reserve cut interest rates last week. That kicked off an easing cycle that gave China's central bank further room to cut its rates and boost growth in the face of deflationary pressure.上周美联储降息后，这场罕见的高层新闻发布会得以安排。这开启了一个宽松周期，为中国央行进一步降息并在通缩压力下提振经济增长提供了更多空间。Pan became PBOC governor in July 2023. During his first press conference as central bank governor in January, Pan said the PBOC would cut the reserve requirement ratio, or RRR. Such policy announcements are rarely made during such events, and are typically disseminated through online releases and state media.潘功胜于2023年7月出任中国人民银行行长。在1月首次以央行行长身份出席的新闻发布会上，他表示中国人民银行将下调存款准备金率（RRR）。此类政策公告很少在这样的活动中宣布，通常是通过在线发布和官方媒体进行传播。He then told reporters in March, alongside China's annual parliamentary meeting, there was room to cut the RRR further. Such a reduction is widely expected in coming months.随后，在3月中国年度议会会议期间，他再次向记者表示，有进一步下调存款准备金率的空间。预计在未来几个月内将进行此类下调。Unlike the Fed's focus on a main interest rate, the PBOC uses a variety of rates to manage monetary policy. The PBOC on Friday did not change its loan prime rate, a benchmark that affects corporate and household loans, including mortgages.与美联储主要关注一个基准利率不同，中国人民银行使用各种利率来管理货币政策。上周五，中国人民银行并未调整贷款市场报价利率（LPR），这一基准利率影响包括抵押贷款在内的企业和家庭贷款。China's government system also means that policy is set at a far higher level than that of the financial regulators speaking Tuesday. Such top-level meetings in July called for efforts to reach full-year growth targets and to boost domestic demand.中国的政府体制也意味着政策的制定要比周二发言的金融监管机构高得多。7月举行的这些高层会议呼吁努力实现全年增长目标并提振国内需求。
While the PBOC kept the loan prime rate unchanged in the days since the Fed's cut, it has moved to lower a short-term rate, which determines the supply of money. The PBOC on Monday lowered the 14-day reverse repo rate by 10 basis points to 1.85%, but did not reduce the 7-day reverse repo rate, which was cut in July to 1.7%. Pan has indicated he would like the 7-day rate to become the main policy rate.虽然美联储降息后，中国人民银行维持了贷款市场报价利率（LPR）不变，但它已采取行动降低短期利率，这一利率决定了货币供应量。周一，中国人民银行将14天期逆回购利率下调了10个基点至1.85%，但并未降低7天期逆回购利率，该利率已在7月下调至1.7%。潘功胜曾表示，他希望7天期逆回购利率成为主要的政策利率。Economists have called for more stimulus, especially on the fiscal front.