China opens bank sector to brokers
(Xinhua)
Updated: 2006-07-12 09:22
Money brokerage firms have been allowed to enter China's banking market
to do business on the inter-bank bond market and inter-bank loan market, China's
central bank announced Tuesday.
Brokerage for banks was increasingly
needed with the rapid development of inter-bank markets, said sources with the
People's Bank of China (PBOC).
Participants in the inter-bank businesses
market had expanded from commercial banks to non-bank financial institutions and
commercial firms.
Their products and services included inter-bank loans,
government borrowing, and commercial bank, financial and company bonds.
Money brokerage firms would provide finance market information and
broker deals concerning financial products.
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