Inter-bank Market Attains a New LevelStatistics from the National Inter-Bank Borrowing Center indicated the center's trading system concluded an aggregate transaction volume of 2314.585 billion yuan in 2000, a rise of 216.14 percent over the previous year.The volume included that of bonds repurchases, inter-bank borrowing and spot transaction. The turnover had hit new highs repeatedly in 2000. The first reason is that the People's Bank of China (PBOC) offered incentive policies to the inter-bank borrowing market. As of the end of 2000, there had been 465 members, an increase of 146 compared with the start of last year. The second reason is that the center made successive innovations while improving the functions available of trading system. On February 21, it launched two-way quotation. On Jun 12, it inaugurated China Currency Network. On August 25, it unveiled bond distribution quotation system. And on September 15, it announced the availability of bond analysis system. The third reason is that its members had taken an active part in the market. As the newcomer on the inter-bank market, securities companies and funds numbered 14 and 29 respectively, compared with 465 of the total number. Despite their limited number, they had been very active on the market. Among the top ten members in terms of transaction volume, Guosen Securities ranked fourth and China Communication Securities and Citic Securities took the ninth and tenth places respectively. (Panorama) |
| People's Daily Online --- http://english.peopledaily.com.cn/ |