Government Bond Futures Trading May Return
By Lydia Chen |
March 30, 2011, Wednesday
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Print Edition
Print Edition
CHINA is working to resume trading of government bond futures after they were suspended for 16 years because of widespread insider trading and speculation.
The turn-about came as demand for treasury futures grew stronger because investors were looking for a vehicle to manage interest rate risks, China Securities Journal cited unidentified sources as saying yesterday.
China's bond market has been growing sharply over the years. In 2010, sales of government bonds rose 9.8 percent to 1.79 trillion yuan (US$273 billion), 12 times the amount in 1995 when the bond market was closed.
Trading in bond futures was halted after a scandal that led to the merger of Shanghai International Securities Co with Shenyin Securities Co. The scandal toppled Guan Jingsheng, then president of Shanghai International.
The turn-about came as demand for treasury futures grew stronger because investors were looking for a vehicle to manage interest rate risks, China Securities Journal cited unidentified sources as saying yesterday.
China's bond market has been growing sharply over the years. In 2010, sales of government bonds rose 9.8 percent to 1.79 trillion yuan (US$273 billion), 12 times the amount in 1995 when the bond market was closed.
Trading in bond futures was halted after a scandal that led to the merger of Shanghai International Securities Co with Shenyin Securities Co. The scandal toppled Guan Jingsheng, then president of Shanghai International.
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