Shibor (Shanghai Interbank Offered Rate) hikes due to the quarter-end factor and cross border shift of capital flows. Under this circumstance, China's central bank flexibly adjusted its open market operations in order to stabilize market expectation. The first quarter economic data will be released next month and it becomes a great concern whether the central bank will lower down the RRR (required reserve ratio of deposits). ANBOUND think tank scholars pointed out that if the central bank uses such a huge monetary policy tool, every 0.5% drop in RRR will lead to a release of nearly RMB 540 billion. From another perspective, it reflects the pressure of China's economy in achieving a "stable growth".