PBoC Governor Pan says to allow overseas institutions to access yuan liquidity and will add overnight reverse repo instruments at the appropriate time, adds to increase overnight reverse repo operations

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PBoC Governor Pan says to allow overseas institutions to access yuan liquidity and will add overnight reverse repo instruments at the appropriate time, adds to increase overnight reverse repo operations

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Says:

  • Six banks are authorised to conduct offshore foreign exchange transactions in Shanghai Free Trade Zone.
  • Difficult and unnecessary for China's credit growth to maintain its previous pace.
  • Will improve the efficiency of interest rate transmission.
  • To develop the wealth management market.
  • To enrich the macro prudential policy toolbox.
  • Will severely crackdown on insider trading and financial fraud.
  • Will steadily promote panda bond market.

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