China's central bank will resume open-market trading of government bonds, Governor Pan Gongsheng said Monday at the Annual Conference of Financial Street Forum 2025 in Beijing.
Pan said the People's Bank of China began secondary-market bond purchases and sales last year to enrich its monetary policy toolkit, enhance the benchmark role of the sovereign yield curve, and strengthen coordination between fiscal and monetary policy.
The operations were paused earlier this year amid market imbalances and rising risks, but conditions have since stabilized. Pan noted that with the bond market now operating smoothly, the PBOC will move to restart open-market bond trading operations.
