Cross-border bond repurchase business officially launched.

The cross-border bond repurchase business jointly promoted by the Hong Kong Monetary Authority, the People's Bank of China, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange was officially launched today. The relevant mainland financial supervision and management departments jointly issued the "Announcement on Further Supporting Overseas Institutional Investors to Conduct Bond Repurchase Business in the Chinese Bond Market," supporting all overseas institutions that have entered the onshore bond market to participate in onshore bond repurchase transactions, obtain RMB liquidity from the onshore market, and remit funds overseas for use. This measure follows the launch of offshore RMB bond repurchase transactions by the Hong Kong Monetary Authority in February this year and will provide a more stable liquidity for the offshore RMB market in Hong Kong, effectively reducing RMB financing costs. Cross-border repurchase and offshore RMB repurchase transactions complement each other, meeting the asset allocation and liquidity management needs of offshore investors, unlocking RMB bond holdings, and further enhancing the international attractiveness of onshore bonds, strengthening the RMB's investment and financing functions in the international market.