Banks given the nod for bonds trading trial

Source: Xinhua | January 21, 2009, Wednesday |

Print Edition

CHINA'S listed commercial banks will be allowed to trade bonds on the country's exchanges for a trial period of unspecified length, ending a ban imposed in 1997, securities regulators said.

Banks will need approval from the China Banking Regulatory Commission and then will have to apply to stock exchanges for such trading, according to a Web notice posted on Monday by the China Securities Regulatory Commission.

Transactions must be on a cash basis and can involve treasury, corporate, enterprise and other approved bonds during the trial, the notice said.

Since the ban was imposed, banks have conducted bond trading through the interbank market.

According to an unidentified CSRC official, the move represents an attempt to expand the bond market and sources of financing for businesses.

The CBRC and CSRC will monitor the trading.

Finance

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Banks given the nod for bonds trading trial

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