A-share markets continued their adjustment this morning, with the SSE Composite Index opening 0.28% lower at 3925.32 points, the Shenzhen Component Index down 0.45%, and the ChiNext Index down 0.38%. At the market opening, agriculture and crop planting stocks rose, while semiconductor and precious metals stocks declined. Chinese President Xi Jinping has arrived in the U.S., where President Trump personally greeted him at the airport, marking the official start of Xi's three-day visit to the United States.

　　The first outcome of the Xi-Trump meeting has been announced: U.S. Treasury Secretary Bessent stated that China and the U.S. have agreed to extend the trade truce by two months until January 10 next year. This is shorter than the three to six months previously reported by media, citing U.S. Trade Representative Grillo.

　　President Xi Jinping delivered a written statement, saying that China and the U.S. have deeply intertwined interests and should be partners rather than adversaries, and that achieving the great rejuvenation of the Chinese nation and making America great again can proceed in parallel and complement each other. He looks forward to in-depth exchanges with Trump on major issues concerning bilateral relations and the global situation. He believes that with joint efforts, this visit will surely yield fruitful results.

　　Additionally, the People's Bank of China conducted a 7-day reverse repo operation of 51.5 billion yuan (RMB, same below) today, while 162 billion yuan of reverse repos matured in the open market, resulting in a net withdrawal of 110.5 billion yuan today. As September 25 is the Mid-Autumn Festival holiday in mainland China, the PBOC conducted a total of 259.5 billion yuan in reverse repos this week, offsetting the 272 billion yuan of reverse repos maturing this week, meaning the PBOC withdrew a total of 1.25 billion yuan this week. (ry)