The People's Bank of China adjusts the evaluation method for primary dealers in open market operations.

The People's Bank of China announcement regarding adjustments to the evaluation methods for primary dealers in the open market operations and the notification of the list of primary dealers for 2025 is as follows: In order to adapt to the transformation of the monetary policy operating framework and the development of the financial market, and to pay more attention to the transmission of monetary policy, the People's Bank of China further optimizes and streamlines the evaluation criteria, clarifies the classification of evaluation for various types of institutions, and strengthens the linkage with the evaluation of bond market makers. The adjusted evaluation methods for primary dealers will be implemented starting from 2025, and the list of primary dealers for open market operations in 2025 will remain unchanged. Primary dealers who engage in improper behavior during the evaluation period will be suspended from participating in open market operations, and those with serious violations will have their status as primary dealers revoked in the following year.