BEIJING, Feb. 23 (Xinhua) -- China will allow qualified commercial banks and insurance institutions to participate in treasury bond futures trading on the China Financial Futures Exchange, the country's securities regulator has said.
The first batch of pilot institutions would include the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, the China Construction Bank and the Bank of Communications, said China Securities Regulatory Commission (CSRC) on its website.
The move aimed to promote the healthy development of the treasury bond futures market, said the announcement jointly released by the CSRC, the Ministry of Finance, the People's Bank of China and the China Banking and Insurance Regulatory Commission.
The participation would meet the risk management needs of commercial banks and insurers, diversifying investment product types and improving bond asset management levels, said the announcement.
Meanwhile, it also helps to enrich market investor structure and promote the stable and orderly development of the treasury bond futures market, according to the CSRC.
A single purchase
