The PBOC held its H2 2026 work meeting, instructing a steady deepening of
financial reform and opening-up. It said it will actively but prudently expand
central-bank currency swap lines and local‑currency settlement cooperation;
support and ease foreign institutions’ participation in panda bond issuance;
coordinate offshore RMB market development, support Shanghai in boosting
cross‑border and offshore financial services and consolidate Hong Kong’s
offshore RMB hub role; deepen facilitation of cross‑border trade and investment
financing; advance the Cross‑Border Interbank Payment System (CIPS) and
international cooperation on cross‑border payments; and enhance cross‑border
infrastructure for the digital RMB.
