Two departments: matters related to enhancing the management of the national treasury's cash and the pledge management of commercial bank term deposits.

The Ministry of Finance and the People's Bank of China issued a notice on strengthening the management of commercial banks' pledge management for treasury cash management. The notice mentions that commercial banks participating in the treasury cash management of central and local governments can use book-entry treasury bonds, local government bonds, and policy financial bonds as collateral for treasury fixed deposits. Bonds that have already been partially repaid cannot be used as collateral. Local government bonds are not restricted by the issuer and can be pledged across regions.