On the basis of the first batch of 20 participating institutions, the China Securities Regulatory Commission and the People's Bank of China selected 20 additional participating institutions based on criteria such as classification evaluation, compliance risk control, etc., to form a pool of 40 alternative institutions. At the time of each batch of operations, about 20 institutions were selected to participate in the People's Bank of China's bidding operation according to the intended scale of participation. At present, all preparations are in place for the second interchange to facilitate operation, and operations will begin today. The China Securities Regulatory Commission requires relevant institutions to give full play to their professional investment capabilities, strengthen compliance risk control management, effectively perform the functions of monetary policy tools to stabilize the market, strengthen and improve the management of market expectations, and promote the stable and healthy development of the capital market.