China's Interbank Trading Active

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Last updated at: (Beijing Time) Friday, August 09, 2002

China's Interbank Trading Active

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The turnover of China's interbank money market topped 1.35 trillion yuan (162.65 billion US dollars)in July, an increase of 12 percent over the previous month, the latest figures from the Shanghai-based China Interbank Trade System show.

This worked out at an average of 58.8 billion yuan (7.08 billion US dollars) for each of the 23 trading days in the month, according to the center.

The center reported that after two months of readjustment, the interest rates on interbank trading had fallen to a stable level of 2.017 percent for interbank lending and 1.95 percent for repurchasing.

The trade included 77.6 billion yuan (9.35 billion US dollars) in interbank lending, 1.23 trillion yuan (148 billion US dollars) in bond repurchasing and 44.8 billion yuan (5.4 billion US dollars)in spot bonds.

Short-term items were still the most popular choice, with thosewithin 20 days accounting for 97.47 percent of interbank credit.

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