Financial Regulatory Bureau: Support commercial banks to participate in the Pudong New Area Free Trade Offshore Bond Business to help the development of offshore finance in Shanghai.

According to the Securities Times app, on June 17th, the China Banking and Insurance Regulatory Commission promoted the implementation of relevant measures in support of the action plan for the construction of Shanghai International Financial Center. It mentioned supporting the construction of an offshore financial system that matches the Shanghai International Financial Center, and the China Banking and Insurance Regulatory Commission, together with the People's Bank of China, the National Development and Reform Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and the Shanghai Municipal Government, jointly issued the "Action Plan for the Development of Offshore Finance in Shanghai International Financial Center" as a comprehensive guidance document to support the development of offshore finance in Shanghai. It also supports commercial banks to participate in offshore bond business in the Pudong New Area under the premise of legality, compliance, and controllable risk. The regulation on supervising the Pudong New Area's free trade offshore bond business will be released soon to better support the standardized and healthy development of the Pudong New Area's free trade offshore bond market.