China’s central bank and the Ministry of Finance have set up a joint working group to strengthen cooperation in government bond trading operations, with the aim of enriching the central bank’s monetary policy toolbox and maintaining liquidity stability.
The move follows directives from the third plenary session of the 18th Central Committee of the Communist Party in July and the Central Financial Work Conference in October 2023, which emphasized the need to diversify the tools available for monetary policy and to increase government bond trading in the central bank’s open-market operations.
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