China Launches Electronic Trading System for Commercial Paper
11-04 14:26 Caijing
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Full article in Chinese: http://www.caijing.com.cn/2009-11-02/110301365.html
» The People's Bank of China introduced a new electronic trading system for commercial paper on Nov. 2 , intended to help manage liquidity and track fund flows.
» The central bank will be one of the major users of the system, which is likely to become an important tool for its open market operations.
» PBOC Deputy Governor Su Ning said that the electronic system will significantly reduce and even eliminate operational risks of the paper-based transaction system. It will also reduce costs for businesses and improve the formation of a unified national market for commercial paper.
» So far, 11 national banks, two urban commercial banks, three rural financial institutions and four finance firms have begun to use the system, the central bank said.
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[ICP License: 090027] IDC License:[B2-20040250] Advertising Business License:[京海工商广字第0407号] 京公网安备110105005607号
Copyright by Caijing. All Rights Reserved