PBOC Promotes Cross-Border RMB Financing to Boost Financial Market Opening

PBOC Unveils New Measures to Support Cross-Border RMB Financing

The People's Bank of China has issued a notice supporting domestic banks in conducting cross-border RMB interbank financing in accordance with market demand, under the principles of compliance and controlled risk.

Emphasis on Unified Management and Risk Control

The notice mandates that business operations at domestic Chinese banks, foreign-owned banks, and joint-venture banks be centrally managed by head offices. Operations must be handled with the principle of 'substance over form,' ensuring all cross-border RMB financing activities are fully covered by management and oversight.

• Establish a comprehensive risk management framework
• Enhance internal control systems
• Ensure compliance and stability in operations

Driving High-Level Financial Market Opening

This policy move aims to further promote RMB internationalization and strengthen cross-border financial services, providing solid support for the high-level opening of China's financial markets.