Shanghai bourse prepares to let listed banks trade bonds

By Bi Xiaoning and Zheng Lifei (chinadaily.com.cn)
Updated: 2009-03-07 17:54

Shanghai Stock Exchange is preparing to introduce the listed commercial banks to trade bonds on the exchange, a senior exchange official said Saturday.

The exchange is now revising its current bonds trading rules to respond to the changes, said Geng Liang, chairman of Shanghai Stock Exchange.

The Shanghai bourse is visiting the 14 listed commercial banks to educate them about the exchange's bonds trading rules, Geng said.

The State Council, or the Cabinet, announced last December that it would permit listed banks to buy and sell bonds issued on stock exchanges on a pilot basis, ending a ban imposed in 1997.

Banks will need approval from the China Banking Regulatory Commission and then must apply to stock exchanges for such trading.
 
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