The development of the free trade bond market has entered a new stage, and efforts are needed to synchronize the system and mechanisms.

Recently, the world's first offshore bond issued in the Shanghai Free Trade Zone was successfully issued, marking a new stage in the development of the free trade bond market. This is also one of the eight policy measures announced by Pan Gongsheng, Governor of the People's Bank of China, at the 2025 Lujiazui Forum, with the implementation of "developing free trade offshore bonds" officially landing in Shanghai. Many experts suggest that the free trade bond market urgently needs to accelerate reforms in credit rating, product systems, risk management, investor structure, and supporting systems to promote the high-quality development of the free trade bond market and build a diversified offshore renminbi asset system.