PBOC: Promote RMB bonds to become globally widely recognized and used eligible collateral

PBOC Governor Pan Gongsheng Attends Emerging Markets Seminar On October 15, 2026, during the Annual Meetings of the International Monetary Fund and the World Bank, Pan Gongsheng, Governor of the People's Bank of China, attended the Emerging Markets Seminar and delivered a keynote speech. Pan Gongsheng pointed out that in the next stage, the People's Bank of China will further support global investors and issuers in participating in China's financial market, promote RMB bonds to become globally widely recognized and used eligible collateral, further enrich liquidity management and risk management tools, and continuously enhance the convenience of investment and financing. At the same time, it will strengthen the connectivity of domestic and overseas financial infrastructure, support the development of the offshore RMB market, and continuously advance the high-level opening-up of China's financial market. The original text is as follows: PBOC Governor Pan Gongsheng Attends Emerging Markets Seminar On October 15, 2026, during the Annual Meetings of the International Monetary Fund and the World Bank, Pan Gongsheng, Governor of the People's Bank of China, attended the Emerging Markets Seminar and delivered a keynote speech. Pan Gongsheng pointed out that currently, global geopolitical risks are rising, the international economic and financial environment is undergoing profound changes, artificial intelligence is accelerating its development, and global investors' demand for diversified allocation and investment in technological innovation continues to increase. China's economy continues to grow steadily, and its high-tech industries are developing rapidly, providing solid support for RMB assets. China's financial market is large in scale, with both its stock and bond markets ranking second in the world, and with ample liquidity, which can effectively meet the diversified allocation needs of global investors. Pan Gongsheng stated that in recent years, China has continued to expand the opening-up of its financial market, optimize market mechanisms, and enhance the convenience of investment and financing. At present, overseas investors can participate in China's financial market through multiple channels such as Bond Connect, and can manage liquidity and hedge risks through transactions such as repos and derivatives. More than 1,200 overseas investors from nearly 80 countries and regions have already participated in the Bank Of China interbank bond market, with overseas investors accounting for about 30 percent of the total. At the same time, overseas issuers such as sovereign governments, international development institutions, financial institutions, and enterprises can also conveniently conduct RMB financing through methods such as panda bonds. Currently, Chinese bonds and stocks have successively been included in major international indices, fully reflecting global investors' confidence in the long-term stable development of China's financial market and its continued expansion of opening-up. At the same time, the offshore RMB market has also developed steadily. Among this, Hong Kong, as the world's largest offshore RMB business center, has continuously enriched RMB investment and financing products and risk management tools, and the supply of RMB liquidity has become further ample. Pan Gongsheng pointed out that in the next stage, the People's Bank of China will further support global investors and issuers in participating in China's financial market, promote RMB bonds to become globally widely recognized and used eligible collateral, further enrich liquidity management and risk management tools, and continuously enhance the convenience of investment and financing. At the same time, it will strengthen the connectivity of domestic and overseas financial infrastructure, support the development of the offshore RMB market, and continuously advance the high-level opening-up of China's financial market. This article is compiled from the "Central Bank". GMTEight editor: Li Fo.