Shanghai Clearing House: Continuously optimizing and developing the "Swap Link" business to support the high-level opening-up of China's financial markets.

The People's Bank of China, the Securities and Futures Commission of Hong Kong, and the Hong Kong Monetary Authority issued a press release on May 15 to deepen cooperation on the "Bond Connect" program. According to the press release, the China Foreign Exchange Trading Center, the China Interbank Market Clearing Corporation, and the Hong Kong Exchanges and Clearing Limited will further enrich the Bond Connect program by expanding the range of products and types to better meet the needs of overseas investors in managing RMB interest rate risks. Specific optimization measures include: extending the maximum trading remaining period of interest rate swap contracts to 30 years, expanding the reference interest rates to include the one-year loan market quoted interest rate, and notifying the specific launch time of the optimization measures by the three basic infrastructure institutions. In response, the Shanghai Clearing House stated that in the future, the three basic infrastructure institutions will continue to work closely with market participants at home and abroad under the guidance of the regulatory authorities in both places, continually optimize and develop the Bond Connect program, and contribute to the high-level opening of the Chinese financial market and the internationalization of the RMB.