MARKETING BRIEFING IN JULY 2002

Open market operation

In July, the People's Bank of China (PBC) held five repo open market operations: three in the Dutch style, and two in the American style.

Bond issuing

In July, the Ministry of Finance and China Development Bank had five bond issuances utilizing the bond issuing system of the PBC, amounting to RMB 92.5 billion yuan.

Market members

By the end of July, members in the national interbank funding market and bond market totaled 660, among which 519 had been connected to the network.

The new forex trading system has been in operation for nearly one year; and the digital certificates of dealers will expire soon. China Foreign Exchange Trade System has improved the method of renewing certificates, and requires dealers to renew the certificates in accordance with the operational instruction.

By the end of July, the national interbank forex market had a total of 314 members.