T-bond futures relaunch 'smooth'

Trading resumes after 18-year halt to promote capital market development

China relaunched government bond futures trading on Friday after an 18-year hiatus in a bid to promote the development of a multi-level capital market.

Xiao Gang, head of the China Securities Regulatory Commission, said government bond futures constitute a breakthrough for the country's derivatives market, and they're an important stage on Shanghai's road to becoming an international financial center.