China's central bank releases 8 major financial policies at Lujiazui Forum 2025

(ECNS) -- China on Wednesday announced eight major financial policies during the Lujiazui Forum 2025 held in Shanghai.

An interbank market transaction data repository will be established to collect and analyze high-frequency transaction data across financial sub-markets, including bonds, currencies, derivatives, gold, and commercial paper, Pan Gongsheng, governor of the People's Bank of China (PBOC), China's central bank, said at the forum.

An international operations center for the digital yuan will be set up, in a bid to advance the international use of the digital currency and better serve innovation in digital finance, according to Pan.

The governor of the central bank also said that a personal credit reporting agency will be established to offer diversified and differentiated personal credit products for financial institutions, further enhancing the social credit system.

He noted that the Lingang section of Shanghai Pilot Free Trade Zone will launch a comprehensive reform pilot for offshore trade financial services to innovate business rules and support Shanghai's development as an offshore trading hub.

Chin will also develop free trade offshore bonds that adhere to international standards to broaden financing channels for enterprises expanding overseas and high-quality companies in Belt and Road partner countries and regions, Pan added.

To enable efficient capital flows between high-quality enterprises and overseas funds, enhance the liberalization and facilitation of cross-border trade and investment, and support Shanghai's high-level opening-up, China will optimize and upgrade free trade account functions, he highlighted.

Shanghai will pioneer structural monetary policy tool innovation, including pilot programs for shipping and trade blockchain letter of credit refinancing, cross-border trade refinancing, and expanding carbon emission reduction support tools, while actively promoting the use of Shanghai's first batch of technology innovation bond risk-sharing tools and shoring up private equity institutions in issuing tech innovation bonds, Pan said.

The central bank will research with the China Securities Regulatory Commission to facilitate RMB foreign exchange futures trading, improve the range of foreign exchange market products, and make it easier for financial institutions and foreign trade enterprises to better manage exchange rate risks, he added.

(By Zhang Dongfang)