The People’s Bank of China is releasing the yield curves of Chinese Government Bonds (CGB) and other financial products on its official website starting from June 15, 2016. All the yield curves mentioned above are produced by China Central Depository and Clearing Ltd. (www.chinabond.cn), and the three-month government bond yield is used by the International Monetary Fund (IMF) as the RMB–denominated interest rate for the purpose of calculating the interest rate of the Special Drawing Right (SDR). It is an international practice to release government bond yield curve on central banks’ websites. This move will make it more convenient for the investors, both at home and abroad, to familiarize themselves with and participate in China’s bond market, raise their awareness and use of CGB yield curve, improve the benchmark role of the government bond yield curve, and lay a solid foundation for the market-based interest rate reform. (Source: PBC Website)
