China's Half-Year Interbank Trading SoarsThe total turnover of China's interbank money market amounted to 718.9 billion yuan (about 86.6 billion U.S. dollars) in the first half year, up 246 percent from a year earlier, according to the China Interbank Center based in Shanghai.The total included 274 billion yuan (33 billion U.S. dollars) in credit, 411.8 billion yuan (49.6 billion U.S. dollars) in bond repurchase, and 32.8 billion yuan (3.95 billion U.S. dollars) in spot bonds. The weighted average interbank lending rate and repurchasing rate were 2.445 percent and 2.452 percent respectively in the first six months. The interbank lending was most active on the 7-day and 20-day items, accounting for 75 percent of the total transactions. The bond buyback was active on the short-period items, accounting for 90 percent of the transactions. The state-owned and share-holding banks and their franchised subsidiaries witnessed the most active trading during the first half year with combined turnover up to 424.8 billion yuan (51 billion U.S. dollars). |
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