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China's Daily Interbank Trade Hits New High
The daily turnover of China's interbank money market has hit a new record of 48.932 billion yuan (US$5.89 billion), according to the latest figures released by the Shanghai-based China Interbank Trade System.
The new record was set on February 20 (Tuesday). The daily interbank trading volume first broke the 40 billion yuan mark on February 5.
Tuesday's total interbank trading volume included 11.379 billion yuan (US$1.37 billion) in credit, 37.087 billion yuan (US$4.468 billion) in bond repurchase agreements and 466 million yuan (US$56.14 million) in spot bonds.
Statistics show that the total interbank trading volume for the January 1-February 20 period was 592.7 billion yuan (US$71.409 billion), 3.78 times the figure for last year's same period.
Sources with the China Interbank Trade System said China's interbank money market plays an important role in pushing forward the construction of a pricing system which is operated under market principle.
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