MARKET BRIEFING IN JANUARY 2002

The People's Bank of China held four open market operation bond transactions in the form of volume-bid in January. Reverse repo traded this month are 7-day and 14-day maturities and there are 11 issues of bonds involved in cash bond transaction. In general, the bidding interest rates of the four reverse repo were the same. The varieties of bonds of repo and cash transaction were almost the same each time.

Relevant information on bond

On January 9, the Ministry of Finance announced the first bulletin in 2002 on the cashing of government bonds that mature in 2002.

On January 15, and January 17, jointly with the People's Bank of China (PBC) and China Securities Regulatory Commission (CSRC), the Ministry of Finance sent out notices on establishing 2002 government bonds underwriting syndicate of interbank bond market and government bonds underwriting syndicate of exchange bond market.

On January 15, according to the Provisional Regulation on the Market Issuance Management of the Financial Bond issued by PBC, the China Export & Import Bank notified all potential members of the underwriting syndicate of the plan to confirm the member list of the syndicate in the future.

National interbank forex market

In 2001, China Foreign Exchange Trade System completed the upgrading of the interbank forex trade system. The new version of the trade system meets the basic needs of the membership, and has been proved to be effective. China Foreign Exchange Trade System will continue to optimize the system according to the suggestions of the members.