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Market Milestones

YearMilestonesDetails
2006Business of Small Payments System started Small Payments System of CGSDTC was launched in Feb on a trial basis in limited provinces and cities on Feb. 20, providing collaterals and setting lines for pledging and credit financing.
 Business for Automatic collateralized credit financing operation of payment system startedAutomatic collateralized credit financing operation of payment system was launched by PBC, and operated jointly with CGSDTC on May. 5th.
 The initial issuance of E-saving bondE-Saving Bond of 15 billion was successfully issued by MOF on July 1.
 Central Treasury Cash Management started MOF made buy-back on T-bonds as 990010, 010013 and 040011 (code) on Aug. 30.
 The initial issuance of mixed capital bonds by commercial bankThe Industrial Bank issued mixed capital bonds of 4 billion on Sep. 27.
 Securities lending started in Nov

 
2005The initial issuance of securities company commercial paper On April 11 the first securities company commercial paper of 6 billion was issued by Guotai Junan Securities Company.
 China's first introduction of QFII into the interbank bond marketWith the approval of PBC, some strategic foreign institutional investors with QFII were given direct access to China's interbank bond market, and Pan-Asia Index Fund and the China Index Bond Fund of the Asian Bond Fund 2 made the first step in May, 2005.
 Forward in the interbank bond market officially startedForward transaction of bond was introduced in the interbank bond market in June.
 Straight Through Processing (STP) realized in the interbank bond marketSTP was launched in the interbank market, whereby trading system of CFETS was linked to CGSDTC's book-entry system of CBIS on Oct. 17th.
 The initial issuance of Commercial Paper of CorporationsFive corporations issued CP on May. 26.
 The initial issuance of general financial bond by commercial banksShanghai Pudong Development Bank issued 7 billion of bonds.
 Approved foreign Institutions issued Panda bonds in China, and its the first time for China to introduce foreign institution issuer into the interbank bond market.International Finance Corporation and Asian Development Bank issued 1.13 bllion and 1 billion RMB bonds respectively in the interbank bond market on Oct. 10th.
 The initial issuance of ABS&MBSThe first ABS&MBS issued by China Development Bank and China Construction Bank on Dec. 15, with the amount of 4.177 and 3.017 billion respectively.
2004DVP was achieved in the interbank bond market. On Nov. 8th, DVP was achieved by jointly operation of PBC's Bulk Electronic Payment System and CGSDTC's Central Bond Integrated System.
 International linkage made its first step by unlinking between CGSDTC and CMU of HongKong. 
 Buy/Sell Repo and collateralized bonds management system introduced to interbank bond market in May. 
2003China's first bond index and yield curve are created by China, and named as Chinabond Index and Chinabond yield curve.Chinabond Index and Chinabond yield curve was made by CGSDTC and published on Jan. 1, 2003.
 The initial issuance of USD bond in ChinaChina Development Bank issued 500 million 5Y financial bonds in Sep.
 The initial issuance of commercial bank Secondary BondThe issuer, the Industrial Bank issued secondary bonds of 3 billion in Dec.
2001Dematerialization of all bonds in custody realized in interbank bond market of ChinaCGSDTC finished redemption of the last patch of definitive bonds.
1999CGSDTC's Central bond Integrated System (CBIS) in operationCGSDTC offered comprehensive interbank bond business to institutional investors.
1998Bond Issuing System of CGSDTC appliedAfter its establishment, Bond Issuing System issued 41 billion financial bonds by its bidding system for China Development Bank in 1998.
1996A national unified bond custody and settlement system established with newly founded CSDIn Dec., with the approval of State Council, China Government Securities Depository Trust & Clearing Co. LTD (CGSDTC) was founded as the CSD of China's bond market. CGSDTC was founded to undertake the official responsibility of bond custody and settlement for China's interbank bond market.
1994The initial issuance of Policy bank financial bond In April, China Development Bank made initial issuance of policy bank financial bond to prescribed buyers.
1993The initial issuance of Central bank bondCentral bank bond was issued then for the purpose of balancing finance resources among different locations and institutions.
 The initial price-setting issuance of domestic foreign currency bond by issuance system NET of ChinaChina Metallurgical Import and Export Corp. issued 40 million fixed price bonds in USD by NET issuance system of China National Securities Electronic Trading System Co. Ltd. on July. 8th.
1992The financial future of China, T-bond Future made its first step.  
1991Repo introduced into the T-bond marketRepo was made in exchange market in July, 1991.
 T-bond was listed to make transactionsT-bond was listed in Shanghai Stock Exchange and among securities business counters of Shanghai.
1989The first hurdle rate public bond issued12 billion bonds of hurdle rate issued in 1989 by the government.
1988Secondary bond market officially founded in ChinaSpot transactions among bank counters were approved in 61 cities around China.
1987The initial issuance of Key Corporate Bond

2 billion of power construction bonds issued to support state power reforming policies.

1985The first issuance of Financial Bond in China

Industrial and Commercial Bank of China issued financial bond of 500 million for loans of special purposes.
1982The first issuance of International Bond by Chinas financial institutions in the international capital marketChina International Trust and Investment Corporation (CITIC) issued private bonds of 10 billion YEN in Japan.
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