An employee counts yuan banknotes at a bank in Huaibei, Anhui province June 22, 2010.[Photo/Agencies]

BEIJING - China's central bank on Tuesday canceled approval procedures in the inter-bank bond trade.

The People's Bank of China (PBOC) will now pay greater attention to the bond trade to protect investors' interests. Issuers should carry out their obligation to release information in a timely manner, said a notice on the PBOC website.

The move is in line with a State Council statement in March on canceling and readjusting administrative approval.