PBOC Financial Markets Department Jiang Huifen: The "Bond Connect Southbound" participating investors will be expanded to non-bank institutions.

Jiang Huifen, deputy director of the Financial Market Department of the People's Bank of China, announced three new optimization measures for further opening up to the outside world at the "Bond Connect Anniversary Forum 2025" on July 8, further deepening the interconnection between the mainland and Hong Kong financial markets and supporting the development of the offshore Renminbi market. This includes improving the operation mechanism of the Bond Connect "southbound channel" to support more domestic investors in investing in offshore bond markets. Jiang Huifen stated that in the near future, the scope of domestic investors will be expanded to include securities firms, funds, insurance companies, and wealth management, among other non-banking institutions.