BEIJING, June 16 (Xinhua) -- The People's Bank of China (PBOC), the Chinese central bank, drafted the interbank bond market bond valuation business rules and started to solicit public opinions from June 9, reported Xinhua Finance recently.
PBOC aimed at better protecting the legitimate rights and interests of investors and facilitating the stable and healthy development of China's bond market, with the deadline for the opinion inviting for the rules on July 9.
Currently, China's bond valuation products system is basically in shape and has played an active role in boosting the reasonable pricing of bond market products.
PBOC said in its drafting notice that optimizing the professionalism of bond valuation products and valuation institutions and encouraging appropriate competition and participant diversification in bond valuation industry will contribute to improvement in the effectiveness of bond market pricing and risk prevention.
PBOC outlined main content of five aspects of the rules which contain altogether 19 articles, including the applicable scale, the basic requirements for valuation institutions, the data source and related using principles, requirements over information disclosure, internal governance, interests conflict, consulting and complaints of bond valuation institutions and the regulatory and supervisory system for them.
According to PBOC, the rules will apply to bond valuation and bond yield curves which are released by third party valuation institutions on China's interbank bond market, have important influence over related market pricing and are broadly used. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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