We report analysis results of the reflectance spectra (0.48 to 3.2 μm) acquired by the Chang’E-5 lander, which provides vital context of the returned samples from the Northern Oceanus Procellarum of the Moon. We estimate up to 120 parts per million (ppm) of water (OH + H2O) in the lunar regolith, which is mostly attributed to solar wind implantation. A light-colored and surface-pitted rock (named as CE5-Rock) is evident near the lander. The reflectance spectra suggest that CE5-Rock could be transported from an older basalt unit. CE5-Rock exhibits a stronger absorption, near 2.85 μm, than the surrounding regolith, with estimation of ~180 ppm of water if the model for estimating water content of regolith is applicable to rock samples, which may suggest an additional source from the lunar interior. The low water content of the regolith may suggest the degassing of mantle reservoir beneath the Chang’E-5 landing site.