Head of China's central bank: Adjustment of evaluation methods for first-tier traders in open market operations will facilitate transmission of interest rates.

An article published by the Financial Times, supervised by the People's Bank of China, stated that the adjustment and optimization of the evaluation methods for first-tier trading players in the open market business will further streamline the transmission of interest rates from short to long. It will also help strengthen the benchmark of the government bond yield curve. In terms of monetary market transmission, it not only examines the quantity, price, and coverage of institutions' lending, but also emphasizes the stable market performance during market fluctuations, guiding first-tier trading players to better play the role of the "major artery" of fund circulation. This is both an inheritance and development of existing indicators. In terms of bond market making, examining institutions' quotes, transaction situations, and stable market performance during bond market fluctuations echoes the previous monetary policy report's proposal to "establish a sound mechanism linking market makers with first-tier trading players in the open market business."