Open market operations

In October, the People's Bank of China issued 40 billion yuan worth of six central bank papers through price bidding. On October 14 and 21, the central bank performed two open bond market operations with nine market makers, easing fund pressures by injecting 17.95 billion yuan of cash.

 

Bond issuing

In October, the Ministry of Finance and the China Development Bank (CDB), through the national interbank bond market, offered 62 billion yuan worth of five issues of bonds - three fixed rate bonds and two floating rate bonds. The Ministry of Finance also issued US dollar bonds worth US$1 billion and euro bonds valued at 0.5 billion in US dollar terms. This was the first forex bonds issued overseas since May 2001.

 

Bond listing

In October, six central bank papers and two CDB bonds were listed on the national interbank bond market.

 

Market members

As of the end of October, members in the national interbank funding market and bond market totaled 889, among which 756 were connected to the network. The national interbank forex market had a total of 337 members, with the www.chinacp.com.cn members reaching 685. On October 29, eight securities companies were approved by the PBC to engage in interbank funding, including Northern Securities Co.Ltd., Jingtong Securities Co.Ltd., BOC International (China) Ltd, Nanjing Securities Co.Ltd., Golden Sun Securities Co.Ltd., Xintai Securities Co.Ltd., New Times Securities Co.  Ltd., and Hengxin Securities Co.Ltd..