China News: Central Bank and Ministry of Finance Jointly Discuss Government Bond Trade
China News: Central Bank and Finance Ministry Collaborate
China's central bank, the People's Bank of China, and the finance ministry recently held their first joint working group meeting focused on government bond trade. This conference underscores the importance of coordinated monetary policy and fiscal policy as Beijing sets its sights on a targeted economic growth rate of around 5 percent.
Significance of the Meeting
During the meeting, both entities discussed enhancing the bond market to foster a more conducive environment for treasury bond trade. The PBOC revealed plans initiated in August to purchase 100 billion yuan (approximately US$14 billion) of government bonds from the secondary market, marking their first operation of this nature in nearly two decades.
Future Prospects
With a commitment to collaborate closely, the PBOC and the finance ministry aim to implement policies that support government bond dynamics and market growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.