MARKETING BRIEFING IN AUGUST 2002

Open market operation

In August, the People's Bank of China (PBC) made four bond transactions through open market operations, all of which were repo and in the form of interest rate bidding (single rate bidding).

Bond issuing

In August, the Ministry of Finance and the China Development Bank issued three sets of bonds, totalling RMB 55 billion yuan, through the bond issuing system of the PBC. On August 16, the Ministry of Finance issued its 10th set of book-entry treasury bonds of 2002, amounting to RMB 20 billion yuan, on the Shanghai Stock Exchange.

Market members

By the end of August, members in the national interbank funding market and bond market totalled 676, among which 537 had been connected to the network. The national interbank forex market totalled 315 members.

By the end of August, 75 institutions had signed the Agreement of Broking Service of Foreign Currency Deposit with the China Foreign Exchange Trade System (CFETS). A total of 31 deals in foreign currency deposits had concluded by the end of August, amounting to US$206 million, with 21 financial institutions involved. Many financial institutions provide bidding or offering quotations to the CFETS daily.