MARKET BRIEFING IN FEBRUARY 2002

Open market operation

The People's Bank of China held three open market operations in the form of volume-bid in February. The transactions are reverse repo of 7-day and 14-day maturities.

Information on bonds

In February, the Ministry of Finance, jointly with the People's Bank of China (PBC), approved 40 syndicate members for visible treasury certificates underwriting in 2002. The Ministry of Finance will sign the contract with the members and grant them the qualification certificates.

On February 5, the 2001 bond of CITIC and the 21st issue of 2001 CDB financial bonds were authorized by the PBC to be listed on the national interbank bond market.

Market members

By the end of February, the national interbank funding market and bond market had a total of 555 members, out of which 451 are members connected to the network.

Approved by the PBC, Regulations on Bond Transactions in the National Interbank Bond Market and Regulations on Emergent Transactions in the National Interbank Bond Market were implemented on February 19, 2002.

By the end of February, national interbank forex market has 309 members.