The Zhitong Finance App learned that recently, the People's Bank of China held a symposium on the over-the-counter bond business to study, deploy and implement related work. The conference pointed out that the over-the-counter bond business is an important part of the Chinese bond market, which is conducive to preparing major articles on inclusive finance, increasing the proportion of direct financing, optimizing the financial system structure, and promoting the construction of a multi-level bond market. The counter bond business has a lot of room for development. It is a long-term systematic work. We hope that all institutions will cooperate closely to improve the rules of counter bond business, do a good job in system construction and internal collaboration such as counter bond trading, custody, settlement, and market making, and accelerate the formation of market effects. Over-the-counter bond business start-ups should effectively prevent risks, do a good job in internal control management and investor appropriateness management, provide individuals, enterprises, and small and medium-sized financial institutions with investment and transaction methods that match their risk tolerance, and promote the stable and healthy development of the counter bond business.

The full text is below:

The People's Bank of China held a symposium on over-the-counter bond business

In order to implement the relevant spirit of the Central Financial Work Conference, promote the high-quality development of the bond market, and expand residents' property income channels, the People's Bank of China issued the “Notice Concerning Matters Relating to Counter Business in the Interbank Bond Market”. Recently, the People's Bank of China held a symposium on the over-the-counter bond business to study, deploy and implement related work. Lu Lei, member of the Party Committee and Deputy Governor of the People's Bank of China, attended the meeting and delivered a speech.

The conference pointed out that the over-the-counter bond business is an important part of the Chinese bond market, which is conducive to preparing major articles on inclusive finance, increasing the proportion of direct financing, optimizing the financial system structure, and promoting the construction of a multi-level bond market. The counter bond business has a lot of room for development. It is a long-term systematic work. We hope that all institutions will cooperate closely to improve the rules of counter bond business, do a good job in system construction and internal collaboration such as counter bond trading, custody, settlement, and market making, and accelerate the formation of market effects. Over-the-counter bond business start-ups should effectively prevent risks, do a good job in internal control management and investor appropriateness management, provide individuals, enterprises, and small and medium-sized financial institutions with investment and transaction methods that match their risk tolerance, and promote the stable and healthy development of the counter bond business.

Comrades in charge of ICBC (01398), Agricultural Bank (01288), Bank of China (03988), China Construction Bank (00939), Industrial Bank (601166.SH), and China Development Bank exchanged experiences, practices and suggestions. Comrades in charge of relevant departments from the Ministry of Finance, the People's Bank of China, the General Administration of Financial Supervision, and the China Securities Regulatory Commission, as well as comrades responsible for policy banks, some joint stock banks, securities companies, the China Interbank Market Dealers Association, and interbank market financial infrastructure attended the conference.

This article was edited from “The Official Website of the People's Bank of China”; Zhitong Finance Editor: Huang Xiaodong.