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China's interbank lending trade grew in February, with average daily trading volume rising to 49.2 billion yuan (six billion US dollars), up 20 percent over January and up nearly 60 percent over the same period last year.
February turnover totaled 837.211 billion yuan (102 billion US dollars) over 17 trading days, according to latest statistics fromthe Shanghai-based China Interbank Trade System. This included 96.737 billion yuan in credit lending and borrowing, 671.158 billion yuan in bond repurchasing, and 69.317 billion yuan in cash bonds.
February's weighted average interest rate for interbank lendingand borrowing decreased by 1.2 percent from the previous month. Daily transaction volume stabilized at four billion yuan.
On the bond repurchasing market, the weighted average interest rate dropped to 2.154 percent at the end of February from 2.287 percent in the beginning of the month. The transaction of seven-day and two-month items increased by a large margin.
The cash bonds market revitalized with daily trading volume at three billion yuan.
(Xinhua News Agency March 8, 2003)
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