MARKET BRIEFING IN MARCH 2002
Open market operation
The People's Bank of China (PBC) held
four open market operations in the form of volume-bid in March, including
transactions of reverse repo and spot bond.
In March, the Ministry of Finance, and
China Development Bank issued three issues of bonds amounting to 40 billion
yuan through the bond issuing system of the PBC. The 1st issue financial bonds
of 2002 and the 21st issue (supplementary) of 2001 by China Development Bank
were authorized by the PBC to be listed on the national interbank bond market.
Under the authorization of the PBC, one commercial bank and six securities companies entered the national interbank bond market and funding market, and three fund companies entered the national interbank bond market in March. The Beijing Branch of China Construction Bank was linked to the network of the national interbank funding system.
By the end of March, the national interbank funding market and bond market had a total of 566 members, among which 460 are members and clients connected to the network.
In March, Nanhai Rural Credit Cooperatives,
Guangzhou Rural Credit Cooperatives and Shi Jiazhuang City Commercial Bank
became the members of China Foreign Exchange Trade System. By the end of March,
the national interbank forex market had a total of 312 members.
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In March, the information system introduced topics: "Viewpoints on Rate Cut" and "Profiles of Excellent Traders" in "Expert Forum".