BRIEFING

Open market operation

In February, the People's Bank of China issued nine central bank papers valued at 155 billion yuan in the manner of price bidding, up 104 billion yuan month-on-month. The net retirement of cash from circulation in February was 80 billion yuan.

Bond issuing

In February, two bonds with a total value of 35 billion yuan were issued by the China Development Bank. One is fixed rate and the other is floating rate. The Ministry of Finance published its schedule for 2004 benchmark rate treasury bond issuance on February 13. The T-bond underwriting syndicates of the interbank market and the exchange market were formed on February 26.

Bond listing

In February, nine central bank papers were listed on the national interbank bond market with a total value of 155 billon yuan.

Market members

As of the end of February, members in the national interbank funding market and bond market totaled 934, among which 797 were connected to the network. The national interbank FX market had a total of 345 members. The members of www.chinacp.com.cn amounted to 920.