滬銀主力合約日內跌4.00%，現報14086.00元/千克。

Quarter-beginning tax payments and a rise in government bond net redemptions are set to tighten liquidity this week. July tax receipts historically run about RMB1.7–1.9 trillion (2021–25); government bond net repayments have risen to RMB568.7 billion, producing a combined funding shortfall exceeding RMB2.2 trillion. The PBOC is likely to step up reverse-repo injections to cushion money markets; a RMB900 billion six‑month buyout reverse repo matures this week, leaving scope for net injection. Overnight reverse repos may be reintroduced to smooth short-term volatility—the tool was used at quarter-end on June 29–30 (RMB300 billion and RMB600 billion) to blunt rate spikes.

滬深兩市成交額連續第274個交易日突破1萬億元。