Brokers allowed in China bank sector
China’s Central Bank announced on Tuesday that China bank sector is opened to brokerage firms which are allowed to do business on the inter-bank bond market and inter-bank loan market, Xinhua news reports.
With the rapid development of inter-bank market, brokerage firms would provide finance market information and broker deals concerning financial products. Under the new policy, they can buy and sell debt and derivatives in the country's two markets to increase transactions.
The central bank said that there is an urgent need for transaction support and information on the growing inter-bank market.