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China central bank says will develop OTC business for local government bonds

In a notice posted on its website on Thursday, the People's Bank of China (PBOC) said it would encourage local government bonds to target purchase and trade by local investors.

November 15, 2018 / 12:54 PM IST
FILE PHOTO: A woman walks out of the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing November 20, 2013.  REUTERS/Jason Lee/File Photo - RC16F58D5320

FILE PHOTO: A woman walks out of the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing November 20, 2013. REUTERS/Jason Lee/File Photo - RC16F58D5320

China's central bank is planning to develop an over-the-counter (OTC) business for local government bonds in the interbank market, in what it said was a move to encourage the market's development and meet investor demand.

In a notice posted on its website on Thursday, the People's Bank of China (PBOC) said it would encourage local government bonds to target purchase and trade by local investors.
Reuters
first published: Nov 15, 2018 12:46 pm
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