China's Interbank Trading Increasingly Active

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Last updated at: (Beijing Time) Monday, October 14, 2002

China's Interbank Trading Increasingly Active

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The turnover of China's interbank money market reached 3.62 trillion yuan (437 billion US dollars) in the third quarter of this year, according to the latest figures from the Shanghai-based China Interbank Trade System.

That figure translated into an average daily trade volume of 53.25 billion yuan (6.4 billion US dollars), nearly doubling that of the same period last year.

The quarterly trade included 356.1 billion yuan (43 billion US dollars) in interbank lending, 3.17 trillion yuan (383 billion US dollars) in bond repurchasing, and 94.7 billion yuan (11.4 billionUS dollars) in spot bonds.

Short-term items were still the most popular choice, with transactions for items within seven days accounting for about 80 percent of the total volume.

Trade volumes of items of various terms, with the exception of 60-day items, rose by 220 percent to 2,290 percent.

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