To avoid that perception, European Safe Bonds would have to be constructed by market participants. It would be easier still to split new sovereign bonds into senior and junior bonds at the time of issuance, sensibly adding a maturity extension feature for the junior bond.
Third, the establishment of the Shanghai Head Office will enable the central bank to timely respond to abnormal movements of the market. This will contribute to the stable operation of the market. Reporter: To provide better services to the market, how will the PBC Shanghai Head Office improve its capacity for monitoring and managing the market?