China's Interbank Money Trading up 141 Percent in 2002

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Last updated at: (Beijing Time) Tuesday, January 14, 2003

China's Interbank Money Trading up 141 Percent in 2002

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China reported 11.84 trillion yuan (1.43 trillion US dollars) in interbank money trading in 2002,up 141 percent over the previous year, according to the latest figures released by the Shanghai-based China Interbank Trade System.

The figures included nearly 80,000 interbank loans and bond purchase transactions.

The trade volume included 1.21 trillion yuan (147.5 billion US dollars) in interbank lending, up nearly 50 percent over last year.

The weighted average annual interest rates for interbank lending dropped from 2.368 in January 2002 to 2.227 percent in December 2002.

Short-term transactions remained the most popular choice, with 20-day items accounting for about 95 percent of the total volume.

Interbank bond repurchasing reached 10.19 trillion yuan (1.24 trillion US dollars), up 154 percent over the previous year.

The weighted average annual interest rate for interbank bond repurchasing dropped from 2.141 percent in January 2002 to 1.958 percent in March 2002, then rebounded to 2.31 percent in December.

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