PBoC has opened the way to
“In recent years, there has been a growing and diverse group of investors participating in the interbank repo market,” the statement said. “As a result, there is
For now, only depository and settlement agencies for interbank bonds can act as third parties. But in the future, large banks with corresponding capabilities can also provide such services, said the statement.
China’s Ministry of Commerce (MofCom) published trade data for the first three quarters of this year on October 17. Exports were Rmb11.86tn and imports totalled Rmb10.42tr, or a combined Rmb22.28tr, a 9.9% increase year-on-year, or a 6.5% and 14.1% increase, respectively.
MofCom also released data on China’s investments and collaborations abroad for the first three quarters in a separate statement. Domestic investors made a total of $82bn in non-financial investments overseas, a 5.1% increase YoY. The investments targeted 155 countries and regions.
Investments in BRI countries was $10.8bn, a 12.3% increase on a year earlier. The total revenue from international projects came to $58.5bn, an increase of 18.4%. Cross-border mergers and acquisitions are becoming popular, MofCom noted. M&A deal value was $43.3bn across 49 countries and 17 industries. The building of overseas economic and trade
In an interview with state media, Liu Shiyu, chairman of the China Securities Regulatory Commission (CSRC), said the regulator would keep opening up the onshore market, as well as stabilise and boost market confidence.
Liu said the CSRC would emphasise the deepening of market reform by supporting foreign-owned asset management firms to set up onshore legal entities.
The Hong Kong Monetary Authority (HKMA) appointed Bu Yongxiang as a senior adviser, the body said on October 12. Bu is on secondment from the PBoC. He will offer advice and assistance around financial co-operation between Hong Kong and the Mainland, further development of renminbi businesses in Hong Kong, and promotion of the city’s financial services industry on the Mainland, the HKMA said in a statement. He was the deputy director general of the PBoC’s Research Institute before his secondment.