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China's Interbank Trading Remains Stable in Third Quarter
The total turnover in China's interbank money market reached 1,230 billion yuan (about 148 billion U.S. dollars) in the third quarter this year, a slight increase over the previous quarter, according to the Shanghai- based China Interbank Trade Center.
The turnover of interbank credit trading, bond repurchase agreements and spot bonds trading, respectively, reached 172.898 billion yuan, 1,040 billion yuan and 16.867 billion yuan.
The average interbank lending rate and repurchasing rate were 2. 43 percent and 2.2925 percent in the quarter, respectively, down 3. 03 percent and 4.08 percent over the second quarter.
Interbank lending was most active on the one-day, 7-day and 20- day items, which jointly accounted for 97.08 percent of all transactions.
The repurchasing of bonds was most active on 7-day items, which occupied 80 percent of all transactions.
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