Meanwhile, PESONet transactions more than doubled with the volume rising from 1.1 million to about 2.7 million, and the value climbing from P118 billion to P253 billion, or by 114 percent over the same period. Apart from the Philippines’ solid macroeconomic fundamentals, the country’s other strengths remain intact.
With major measures in place, qualified enterprises were allowed to issue short-term financial bills in the inter-bank bond market; foreign-funded commercial banks with RMB business license can join bond underwriters' syndicate to provide underwriting services in the inter-bank bond market; International development agencies were approved to issue RMB bonds in the national inter-bank bond market; Pan-Asia Bond Index Fund and ABF China Bond Index Fund have been launched in the inter-bank bond market; Bond forward transaction has been introduced; Efforts have been made to improve information disclosure system, and strengthen market disciplinary mechanism.