China's Interbank Trading Up in First QuarterTurnover on China's interbank money market reported a remarkable rise in the first quarter of this year, according to figures provided by the Shanghai-based China Interbank Trade Center.The turnover of interbank credit trading totaled 240.115 billion yuan, up 170 percent from the same period of 2000. The turnover of bond repurchase agreements went up 170 percent to 706.047 billion yuan, while that of spot bonds rose 16.22 percent to 10.745 billion yuan. The weighted average interbank lending rate and repurchasing rate were 2.601 percent and 2.5259 percent respectively in the first quarter, up 2.77 percent and 0.53 percent respectively on a year-on-year base. Trading was the most active for seven-day items, which accounted for over 70 percent of the volumes for both interbank lending and bond repurchase. |
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