The joint working group of the People's Bank of China (PBOC) and the Ministry of Finance, at its first ever formal meeting, have agreed to strive for maintaining stable development of the bond market and providing a suitable market environment for the central bank's treasury bond trading operations.
At the meeting held in Beijing shortly after its establishment, the joint working group determined its operating mechanism, with members of the working group from the the PBOC -- China's central bank -- and the Ministry of Finance exchanging views on issues related to operation of the stock market.
Both agreed that the central bank's treasury bond trading is an important means to enrich the monetary policy toolkit and strengthen liquidity management.
In the next step, efforts will be made to coordinate development and security, continue to strengthen policy coordination and continuously improve the relevant institutional arrangements in maintaining stable development of the bond market within the framework of norms, and in providing a suitable market environment for the central bank's treasury bond trading operations.
In efforts to reinforce the counter-cyclical adjustments of monetary policies and maintain adequate liquidity at a proper level in the banking system, the PBOC, respectively in August and September, conducted net bond purchases with the face value of 100 billion yuan (about 14.14 billion U.S. dollars) and 200 billion yuan (about 28.28 billion U.S. dollars), according to an announcement on treasury bond trading issued by the central bank.
Joint working group of China's central bank, finance ministry agrees to maintain stable operation of bond market
Joint working group of central bank, Finance Ministry agrees to maintain stable operation of bond market
Attendees at a China Media Group (CMG) event expressed enthusiasm for the growing trend of Chinese brands moving up the global value chain, producing and marketing high-quality products that are redefining the image of China-made products.
The CMG's CCTV business channel recorded its New Year's Eve Speech program at the National Aquatics Center in Beijing on Thursday evening. The event invited business leaders from prominent Chinese manufacturing enterprises to share their experiences in expanding into global markets.
"When Chinese brands go global, what people truly experience is a transformation in their quality of life. In product development, we prioritize meeting consumer needs through technological innovation. Gree's slogan is 'Made in China, Loved by the World.' We want people to understand China through the use of our products," said Dong Mingzhu, chairwoman of Gree Electric Appliances, a leading home appliance giant.
Other speakers shared their insights on the globalization process of Chinese brands, emphasizing how innovation and quality have enabled Chinese companies to make a global impact and demonstrate their international competitiveness.
As part of this globalization process, Chinese enterprises are actively integrating into local communities and contributing to the development of local industrial chains.
"In recent years, we have focused on the domestic market while expanding internationally, working tirelessly to enhance the global influence of Chinese clothing brands and amplify China's voice in international fashion. With China's growing overall strength, Chinese brands are now accelerating their movement toward the mid-to-high end of global value chains. We firmly believe that in the future, more Chinese brands will step onto the global stage," said Gao Dekang, founder and chairman of Bosideng, one of China's leading clothing brands.
The program will be broadcast at 22:30 on December 31st, New Year's Eve.
CMG event highlights global competitive edge of Chinese brands
