Central Bank: Deepen the function of RMB financing currency and support the development of the offshore RMB market

The head of the Macroprudential Administration of the Central Bank said that it will continue to improve various RMB financing support policies and tools, give better play to the role of the inter-central bank currency swap mechanism in supporting the cross-border use of RMB, improve the management of cross-border interbank RMB financing by banks, and encourage and support more qualified overseas institutions to issue panda bonds in China. Improve cross-border RMB liquidity supply arrangements, optimize the layout of clearing banks, and continue to strengthen policy support for clearing banks' liquidity. Support various domestic and foreign institutions to issue and trade RMB assets overseas, issue central bank bills on a regular basis, and enrich liquidity management and risk management tools. Consolidate and enhance Hong Kong's status as an international financial center and an offshore RMB business hub. (Financial Times)