The PBOC held its H2 2026 work meeting, saying high-level financial opening is
progressing steadily. It will optimize rules for corporate outbound lending,
banks' overseas loans and cross-border RMB interbank financing. The central bank
plans to introduce an offshore central-bank repo tool to support liquidity
management. Authorities will facilitate panda-bond issuance by international
high-quality issuers; panda bonds issuance exceeded 160bn yuan in H1.
Construction of the cross-border RMB payment system has advanced. The meeting
reaffirmed support for Shanghai and Hong Kong as international financial centers
and for infrastructure projects including Xiong’an New Area and the western
land-sea new corridor. It will deepen foreign-exchange facilitation reforms,
expand high-level cross-border trade opening pilots, and improve corporate FX
risk-management services.
