China's central bank, the People's Bank of China (PBOC), has announced that it will establish a credit market department. The new department will be responsible for the management of the country's interbank market, bond market, and foreign exchange market. It will also be in charge of the country's open market operations and the management of the country's foreign exchange reserves.
The establishment of the credit market department is part of the PBOC's efforts to improve the efficiency of the country's financial system and to promote the stable development of the economy. The department will be headed by a vice governor of the PBOC, who will be in charge of the overall planning and coordination of the country's financial markets.
The establishment of the credit market department is expected to enhance the PBOC's ability to monitor and regulate the country's financial markets, and to ensure the stability of the financial system. It will also help to improve the efficiency of the country's monetary policy and to promote the healthy development of the financial industry.
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