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China plans to unify corporate bill market

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China plans to unify the country's corporate bills market, central bank vice governor Pan Gongsheng was quoted by Shanghai Securities News as saying on Wednesday.

[BEIJING] China plans to unify the country's corporate bills market, central bank vice governor Pan Gongsheng was quoted by Shanghai Securities News as saying on Wednesday.

"The central bank is pushing forward to build a unified national bill market, which is included in the central bank's work plan," Mr Pan was quoted as saying.

An electronic system will help cut bills trading costs and risks, he added.

The news follows reports that Agricultural Bank of China Ltd may lose 3.8 billion yuan (S$802 million) from a bills of exchange scam allegedly carried out by two employees.

REUTERS

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