The People’s Bank of China said this week that it wants to improve its communication with market participants in order to avoid misinterpretation of its policies.
In a circular published on its website this week, the PBoC said officials should actively participate in press conferences and engage in media interviews. When explaining complex policies, officials should use simple language so the public can fully grasp the message.
China will more actively use its capital markets to promote green development, the China Securities Regulatory Commission said in a May 21 statement.
The watchdog said it will look into introducing an Environmental, Social and Governance (ESG) disclosure system for listed companies, asking them to provide more information on what they are doing to protect the environment.
ESG will also be considered when the CSRC is reviewing applications for IPOs, refinancings and M&A. Furthermore, the regulator will expand the development of green bonds and study the possibility of launching green products such as carbon emissions futures, it said.
The State Council has released new measures to boost RMB business in three FTZs — Fujian, Guangdong and Tianjin — as part of an effort to further liberalise the pilot zones.
The government said qualified multinational companies in the Fujian FTZ can start applying for cross-border two-way RMB capital pool business based on their needs. It will encourage institutions from Guangdong, Hong Kong and Macau to set up overseas RMB funds in the Guangdong FTZ to provide capital for Chinese corporations expanding abroad.
The State Council will also allow foreign institutions and enterprises to issue RMB bonds in the Tianjin FTZ, in order attract central banks, sovereign wealth funds and other investors in Belt and Road countries to invest in onshore RMB assets.
The State Bank of Pakistan has renewed its bilateral local currency swap agreement with the PBoC, the Chinese central bank said in a May 24 announcement. The swap line will be Rmb20bn ($3.13bn), up from Rmb10bn, and is valid for three years.
*Germany should make the most of China’s latest efforts to reform and open up its economy,