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Article: China's Central Bank Launches Open Market Operation
- Article from:
- Xinhua News Agency
- Article date:
- April 10, 1996
CopyrightCopyright 1996 Xinhua English Newswire. Provided by ProQuest LLC. (Hide copyright information)
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The People's Bank of China (PBC), the country's central bank,
picked up a new monetary tool Tuesday by officially launching the
long-awaited open market operation in bonds.
A bank source said that the PBC repurchased from commercial banks
a total of 290 million yuan in short-term treasury bonds on the
first
day of the new business.
Analysts here say that the launching of the open market
operation,
deemed by many central banks worldwide as an effective monetary tool
for conducting indirect financial macro-control, will ...