BEIJING, June 19 (Xinhua) -- China's central bank will implement eight measures relative to financial market regulation, digital Renminbi (RMB), offshore trade finance, and financial opening up in Shanghai, reported China Securities Journal citing central bank governor Pan Gongsheng on Wednesday.
As Pan noted during the 2025 Lujiazui Forum, an interbank market transaction reporting database will be established to pool in high frequency and analyse systematically trading data of financial sub-markets.
Through such data collection and analysis, the People's Bank of China (PBOC), the country's central bank, aims to better serve financial institutions, macro-economic adjustment and financial market regulation.
An international operation center for digital RMB will also be founded to press ahead with the internationalized operation of digital RMB and development of financial market business to enhance digital finance innovation.
Pan mentioned setting up a personal credit information institution as well, underlining supply of diverse and differentiated personal credit products for financial institutions to further enrich the social credit system.
In Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, a comprehensive reform on offshore trade finance service will be piloted via innovating related rules to bolster offshore trade in the eastern China metropolis.
Under the principle of "overseas market-based fund source and fund use" and other international norms, development of free trade zone (FTZ) offshore bonds is encouraged to expand financing channels of "going global" companies and quality enterprises in Belt and Road Initiative partner countries.
Apart from these, the PBOC will optimize and upgrade free trade account functions to improve facilitation to cross-border trade and investment and research over advancing RMB-denominated foreign exchange futures transaction with the Chinese securities regulator.
Such innovation in structural monetary policy vehicles will also be piloted ahead of other regions in Shanghai, including the blockchain-enabled letter of credit refinance in aviation trade, cross-border trade refinance, and expansion of carbon-reduction supporting tools.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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