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.