Ministry of Finance: Carry out market-making support operations for national bonds in January 2025.

Recently, the Ministry of Finance issued a notice regarding the implementation of market-making support operations for national bonds in January 2025. In order to support market-making of national bonds, enhance liquidity in the secondary market of national bonds, and improve the national bond yield curve reflecting market supply and demand, the Ministry of Finance has decided to carry out market-making support operations for national bonds. This operation includes two periods of national bonds for selling operations: the 2024 book-entry interest-bearing (Eleventh Tranche) national bond with an operation amount of 320 million yuan and a term of 10 years; and the 2024 book-entry interest-bearing (Nineteenth Tranche) national bond with an operation amount of 450 million yuan and a term of 2 years. In terms of bidding restrictions, the bid price fluctuation for the Eleventh Tranche national bond is 0.08 yuan, with a maximum and minimum bid price difference limit of 45 bid points; and the bid price fluctuation for the Nineteenth Tranche national bond is 0.03 yuan, with a maximum and minimum bid price difference limit of 35 bid points. Original text: Notice regarding the implementation of market-making support operations for national bonds in January 2025 Finance Office Treasury [2025] No. 14 Market-making support participating institutions for national bonds, China Foreign Exchange Trading Center and National Interbank Borrowing Center, and China Central Depository & Clearing Co., Ltd.: In order to support market-making of national bonds, enhance liquidity in the secondary market of national bonds, and improve the national bond yield curve reflecting market supply and demand, the Ministry of Finance has decided to carry out market-making support operations for national bonds (referred to as this operation below). The relevant matters are notified as follows: I. Main arrangements for the operation II. Bidding restrictions III. Listing arrangements for selling bonds and payment of operation funds Starting from January 24, 2025, they will be listed for trading with national bonds of the same period. Winning participating institutions are required to pay the operation funds into the designated fund account of the Ministry of Finance by January 22, 2025, and the payment date is based on the receipt of funds by the designated account of the Ministry of Finance. Payee's name: Ministry of Finance of the People's Republic of China Account opening bank: Central Treasury General Account Remitting bank account number: 011100099992 2024 book-entry interest-bearing (Eleventh Tranche) national bond payment account: 270-24111-11 2024 book-entry interest-bearing (Nineteenth Tranche) national bond payment account: 270-24119-12 IV. Other matters In addition to following the above provisions, all other matters will be carried out in accordance with the "Notice of the Ministry of Finance and the People's Bank of China on Issuing the " (Finance Treasury [2016] No. 154) and other relevant regulations. This article is excerpted from the "Ministry of Finance of the People's Republic of China", edited by GMTEight: Liu Xuan.