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Sunday, February 23, 2020, 15:44
China allows eligible banks, insurers to trade treasury bond futures
By Xinhua
Sunday, February 23, 2020, 15:44 By Xinhua

In this Sept 24, 2014 photo, a worker of an Industrial and Commercial Bank of China Ltd (ICBC) branch counts money as she serves a customer in the China (Shanghai) Pilot Free Trade zone during a media trip. (JOHANNES EISELE / AFP)

BEIJING - China will allow qualified commercial banks and insurance institutions to participate in treasury bond futures trading on the China Financial Futures Exchange, the country's securities regulator has said.

The move aimed to promote the healthy development of the treasury bond futures market

The first batch of pilot institutions would include the Industrial and Commercial Bank of China (ICBC), the Agricultural Bank of China, the Bank of China, the China Construction Bank and the Bank of Communications, said China Securities Regulatory Commission (CSRC) on its website.

The move aimed to promote the healthy development of the treasury bond futures market, said the announcement jointly released by the CSRC, the Ministry of Finance, the People's Bank of China and the China Banking and Insurance Regulatory Commission.

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The participation would meet the risk management needs of commercial banks and insurers, diversifying investment product types and improving bond asset management levels, said the announcement.

Meanwhile, it also helps to enrich market investor structure and promote the stable and orderly development of the treasury bond futures market, according to the CSRC.

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