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Volatility fears obstruct China Treasury futures growth
Commercial banks barred despite support for their entry from securities regulator
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The China Banking Regulatory Commission (CBRC) has barred commercial banks from participating in the onshore Treasury bond futures market, due to fears of a sharp increase in volatility if this group – which holds nearly 70% of the country's cash Treasury bonds – is allowed into the futures market.
On July 28, the CBRC – the primary regulator for commercial banks – rejected a proposal from the National People's Congress (China's legislative body) to allow these firms to trade Treasury futures
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