People's Bank of China and others: Carrying out offshore financial pilot program in Pudong New Area in a prudent and orderly manner.

The action plan proposes to carry out offshore financial pilot projects in Pudong New Area in a steady and orderly manner, continuously enhancing the leading role of socialist modernization in global financial resource allocation in the area. The pilot projects will explore the moderate aggregation and effective isolation of offshore finance through methods such as "physical clustering," "subject restriction," and "account segregation," better aggregating global high-quality financial elements and resources, supporting Chinese enterprises "going global" overseas branches and partners in countries and regions involved in the Belt and Road Initiative to use offshore financial services, meeting their diverse needs in payment settlement, fund remittance, investment financing, insurance, asset management, etc. It encourages Shanghai to formulate standards, processes, and regulatory measures for enterprises to obtain offshore financial services. Feasibility studies on establishing offshore banks and other offshore financial institutions will be conducted.