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Inter-Bank Market Business Volume Tops 2 Trillion Yuan
By December 4, the aggregate transaction volume of the national inter-bank market had topped 2 trillion yuan for the first time to reach 2004.02 billion yuan, of which the aggregate transaction volume of the call loan market came to 577.925 billion yuan, that of bond counter-purchase market to 1363.264 billion yuan; and that of spot securities bargain to 62.853 billion yuan, up by 106.62 percent, 280.49 percent and 1052.63 percent respectively over the same period of 1999.
The national inter-bank borrowing market was established in January 1996. In recent years, People's Bank of China (PBOC) took the cultivation of the money market as one of its basic tasks in implementing the monetary policy and allowed rural integrated credit cooperatives, securities companies, investment funds, financial companies and other non-financial institutions to enter the national inter-bank money market. Up to the end of November, there had been 463 markets making deals through the national inter-bank borrowing center.
The bond counter-purchase market is the inter-bank securities swap market based on inquiries that formed after commercial banks evacuated from the exchanges in June 1997. By the end of November, there had been 80 circulating bonds in the inter-bank bonds market which meets different market demands.
By PD Online staff member Du Minghua
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