China plans to centralise commercial paper market
Beijing
CHINA plans to centralise the country's commercial paper market, central bank vice-governor Pan Gongsheng was quoted by Shanghai Securities News as saying on Wednesday.
Commercial paper, sometimes known as corporate bills in China, refers to short-term obligations with maturities typically within 270 days issued by banks, corporations and other borrowers to investors with temporarily idle cash. "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.
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