BRIEFING

Open market operation

In December, the People's Bank of China issued nine central bank papers with a planned value of 90 billion yuan in the manner of volume bidding, 10 billion yuan less than the previous month. In 2003, the central bank issued 63 central bank papers with a net withdrawal from the circulation of more than 300 billion yuan.

Bond issuing

In December, the Ministry of Finance and the China Development Bank offered 75.5 billion yuan worth of four bonds. In 2003, treasury bond issuance amounted to 628.34 billion yuan, including four visible treasury certificates and 13 book-entry treasury bonds. The China Development Bank issued 30 bonds valued at 400 billion yuan. The China EXIM Bank issued three bonds valued at 32 billion yuan.

Bond listing

In December, 15 bonds were listed on the national interbank bond market, including eight central bank papers, three treasury bonds, three bonds from the China Development Bank and one bond from the China EXIM Bank.

Market members

As of the end of December, members in the national interbank funding market and bond market totaled 918, among which 785 were connected to the network. The national interbank FX market had a total of 344 members. The members of www.chinacp.com.cn amounted to 891.