久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Economy

Markets

Industries

Insights

Reports

Events

Central bank issues financial report

(China Daily)
Updated: 2007-05-31 06:41

China's financial market structure continued to improve last year, the central bank said.

Direct financing was further developed, with a better resource allocation, the People's Bank of China said yesterday in its China Financial Markets Development Report 2006.

Financing through the stock market rose as the government resumed IPOs in May 2006 after a year's ban.

Companies raised a total of 246.37 billion yuan in Shanghai and Shenzhen stock markets, 628.6 percent higher than the previous year.

With the launch of more innovative products, bond issues climbed from 1.35 trillion yuan in 2005 to 2.02 trillion yuan last year.

The composition of investors kept improving, with growing institutional investors, which have become a major player in the financial market.

In the inter-bank borrowing market and the inter-bank bond market, there were 339 and 289 commercial banks respectively. In the securities market, there were 58 fund management companies, managing 307 funds by the end of last year and raising 402.8 billion yuan.

The government has approved 55 qualified foreign institutional investors (QFIIs), with a combined foreign exchange quota of $9.045 billion.

The central bank reaffirmed its plan to develop properly functioning onshore financial markets in 2007.

Among other things, it said it was studying plans to promote yuan- and gold-based derivatives.