On April 10, the Monetary Policy Committee of the PBC convened its first quarterly meeting of 2009.
On April 15, the PBC reported to the Economic and Financial Committee of the National People s Congress on the conduct of monetary policy during the first quarter of 2009.
On May 6, theChina Monetary Policy Report, Quarter One 2009 was released.
On May 13, the PBC and the CBRC held a symposium in Beijing on money and credit work, studying and analyzing recent financial developments, the current situation, and work to be done.
On May 14 and June 24, with agreement by the State Council, the PBC approved the Bank of East Asia (China) and the Hong Kong and Shanghai Banking Corporation (China), two Hong Kong-funded banks incorporated on the mainland, to issue renminbi bonds of 4 billion yuan and 3 billion yuan respectively in Hong Kong.
On May 26, the 16th regular meeting of the committee that reviews the redemption of special central bank notes under the pilot program initiated by the PBC for the reform of rural credit cooperatives (RCCs) decided to redeem central bank notes issued to RCCs in 39 counties (county-level cities) in Fujian and other 11 provinces (autonomous regions and municipalities), with a total quota of 2.7 billion yuan.
On May 27, the China Regional Financial Performance Report (2008) was issued.
On June 10, the State Administration of Foreign Exchange released the Notice on Further Improving the Administration of Enterprises Trade Credit Registration and Online Verification of Export-related Foreign Exchange Collection and Settlement (SAFE General Affairs Department, Document No. 78 [2009]), which clarified the responsibilities for the registration and administration of trade credit, improved the online versification system for export-related foreign exchange collection and settlement, promoted trade facilitation, and stabilized external demand.
On June 24, the PBC Monetary Policy Committee convened its second quarterly meeting of 2009.
On June 29, the new system for local currency transactions on the inter-bank market was successfully launched.
