BEIJING — China's central bank has further optimized its bond transaction and circulation mechanism, aiming for higher efficiency while enhancing the ability of the bond market to serve the real economy, according to an announcement of the People's Bank of China.

The new arrangements include the implementation of electronic transmission by establishing direct system connections between infrastructure organizations and strengthening the intermediary service functions of such organizations.

The issuers or lead underwriters are no longer required to provide the interbank lending center with a list of initial holders and their holdings, the document read.

To further promote the high-quality development of the bond market, the bank will next continue to fine-tune the system of bond transactions in the interbank market and guide infrastructure organizations to perform their service functions well, it said.